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Should You Buy Fortinet Inc (FTNT) Stock on Friday?

Friday, February 23, 2024 03:55 PM | InvestorsObserver Analysts

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Should You Buy Fortinet Inc (FTNT) Stock on Friday?

Fortinet Inc (FTNT) stock is down 3.83% over the past week and gets a Neutral rating from InvestorsObserver Sentiment Indicator.

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

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With FTNT Stock Today?

Fortinet Inc (FTNT) stock is trading at $67.57 as of 3:45 PM on Friday, Feb 23, an increase of $0.61, or 0.9% from the previous closing price of $66.96. The stock has traded between $67.19 and $67.89 so far today. Volume today is light. So far 2,556,009 shares have traded compared to average volume of 7,557,686 shares. To see InvestorsObserver's Sentiment Score for 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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