FTNT Price Prediction Next Week
Based on the provided data and current market conditions, here is the analysis for FTNT's price movement for next week:
Technical Analysis
- Current price: $96.90
- Key resistance levels: $97.57 (recent high), $98.32 (Fibonacci R3)
- Key support levels: $95.40 (Fibonacci S3), $93.12 (volume-based)
- RSI(14) at 54.76 indicates neutral momentum
- MACD shows positive divergence with value at 0.44
News Sentiment Analysis
- Rosenblatt raised price target from $100 to $115 while maintaining Buy rating
- Strong growth expected with revenue CAGR of 24% from 2018-2023
- Upcoming Q4 earnings release on Feb 6, 2025, with expected EPS of $0.52, up 23.8% YoY
- Analysts expect full-year 2024 revenue guidance of $5.86-$5.92 billion
Price Prediction for Next Week Based on technical indicators and news sentiment:
- Bullish scenario (60% probability): Price likely to test $98.32 resistance level
- Neutral scenario (30% probability): Consolidation between $95.40-$97.57
- Bearish scenario (10% probability): Drop to $93.12 support level
Target Price: $98.50 (+1.65%)
Recommendation: BUY
- Strong technical setup with positive MACD
- Multiple analyst upgrades
- Solid fundamental growth expectations
- Key support level at $93.12 provides good risk/reward ratio
The stock shows potential for upward movement next week driven by positive analyst sentiment and technical indicators, though traders should monitor the $97.57 resistance level for potential breakout confirmation.
FTNT Revenue Forecast
FTNT EPS Forecast
FTNT FAQs
What is revenue forecast for next quarter？
What is eps forecast for next quarter？
FTNT VS S&P500
Fortinet has strong secular tailwinds as endpoint security, cloud security, and the convergence of networking and security are projected to grow rapidly.
Fortinet's strength in the high-margin firewall segment should allow the firm to generate substantial cash in future.
The company stands to benefit as clients consolidate vendors and opt for a platform-based cybersecurity approach.
FTNT Analyst's Forecast
Patrick Colville
Scotiabank
Buy
Price Target
$110 → $115
Upside
+18.31%
Scotiabank raised the firm's price target on Fortinet to $115 from $110 and keeps an Outperform rating on the shares. After a healthy FY24 where U.S. software equities performed well, the firm feels bullish in 2025 about the software sector, the analyst tells investors. The firm's forensic analysis points to software earnings surprises and estimate revisions.
Adam Tindle
Raymond James
Buy → Hold
Price Target
n/a
Upside
0%
Rob Owens
Piper Sandler
Hold → Buy
Price Target
$100 → $120
Upside
+22.52%