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Is Fortinet Inc (FTNT) a Stock to Watch After Losing -1.68% This Week?

Friday, December 01, 2023 03:29 PM | InvestorsObserver Analysts

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Is Fortinet Inc (FTNT) a Stock to Watch After Losing -1.68% This Week?

The market has been down on Fortinet Inc (FTNT) stock recently. FTNT gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bearish
Fortinet Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on FTNT!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With FTNT Stock Today?

Fortinet Inc (FTNT) stock has fallen -0.06% while the S&P 500 has gained 0.5% as of 3:14 PM on Friday, Dec 1. FTNT is down -$0.03 from the previous closing price of $52.56 on volume of 4,744,352 shares. Over the past year the S&P 500 has risen 12.51% while FTNT is down -1.19%. FTNT earned $1.45 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 36.26. To screen for more stocks like Fortinet Inc click here.

More About Fortinet Inc

Fortinet is a cybersecurity vendor that sells products, support, and services to small and midsize businesses, enterprises, and government entities. Its products include unified threat management appliances, firewalls, network security, and its security platform, Security Fabric. Services revenue is primarily from FortiGuard security subscriptions and FortiCare technical support. At the end of 2021, products were 38% of revenue and services were 62% of sales. The California-based company sells products worldwide. Click Here to get the full Stock Report for Fortinet Inc stock.

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