Fortinet's Stock Tanks as S&P 500 Dips

Fortinet's stock has tanked over the past week, dropping 18% compared to the S&P 500's more modest 2.6% dip.

Fortinet logo displayed on a phone screen and binary code displayed on a laptop screen are seen in ... [+] this illustration photo taken in Krakow, Poland on August 25, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images)NurPhoto via Getty Images
This illustration shows the Fortinet logo on a phone screen and binary code on a laptop screen. It was taken in Krakow, Poland on August 25, 2022.

It's been a tough week for Fortinet Inc. (NASDAQ: FTNT) shareholders, with the stock down 18% in the past five trading days. That performance is significantly worse than the broader markets, with the S&P 500 down 2.6% over the same period. There are a few reasons for the stock's weak performance. First, the company announced Q3 '22 earnings last week, with revenue coming in at around $1.15 billion. That's higher than the $867 million in Q3 '21, but expenses also rose, leading to only a modest increase in operating margins. Second, Fortinet gave a weaker-than-expected outlook for Q4 '22. While the company is still expecting to see growth in revenue and earnings, it wasn't enough to appease investors. Finally, the stock may also be taking a hit due to the recent sell-off in tech stocks. While Fortinet isn't as directly exposed to the recent weakness in the tech sector, it's still feeling the effects. Looking forward, Fortinet is still a strong company with a solid growth outlook. However, the stock may remain under pressure in the near-term due to the combination of earnings disappointment and the sell-off in tech stocks.

Although FTNT stock has underperformed in recent months, we believe there is a strong chance (62%) that it will rise in value over the next month. This is based on our machine learning analysis of historical trends in the stock price. For comparison, FTNT has outperformed CSCO by 5.7% and underperformed NLOK by 11% in terms of year-to-date stock return.

FTNT Chance of RiseTrefis
I believe that there is a strong chance that FTNT will rise in the near future.

It's been a tough few weeks for Twenty-One Day. The company's stock has underperformed the market, falling 8.5% while the S&P 500 has risen 3.7%.

There is a 13% likelihood that the event will occur, and a 62% probability that the event will rise over the next 21 days.

  • There are a number of reasons why Fortinet's stock may have dropped over the last month, despite the market overall rising. It could be due to specific issues with the company, or simply because investors are jittery about the stock.
  • There is a 13% chance that the stock market will plunge by 8.5% or more over the next 21 trading days, according to data from the last 10 years. This has happened 337 times out of 2517, or about once every seven years.
  • Looking at the data, it seems that the stock has a strong tendency to move upwards in the 21 days following a positive event. This could be a good time to buy shares, as the probability of seeing a return on investment is relatively high.
  • This points to a 62% probability for the stock rising over the next twenty-one trading days. This is good news for investors, as the stock market has been volatile recently.

The stock of Fortinet Incorporated (FTNT) fell by 14% over the past ten days, underperforming the S&P500 index, which only fell by 0.7%.

There is a 2% likelihood event that will cause a 60% probability of rise over the next 10 days. This is a significant event that should be monitored closely.

  • The stock of Fortinet Inc (FTNT) has dropped by 14% over the last ten trading days, compared to a much smaller drop of just 0.7% for the broader market as represented by the S&P 500 index.
  • A change of -14% or more over ten trading days is a 2% likelihood event, which has occurred 62 times out of 2517 in the last 10 years. This means that investors should be prepared for the possibility of significant market volatility in the coming days.
  • Looking at the data, it seems that buying the stock after it drops below $62 has been a profitable strategy 37 out of 62 times, or about 60% of the time.
  • There's a 60% chance that the stock will rise over the next ten trading days, according to the data. This could be a great opportunity to invest in the stock market!

Five Day: FTNT -18%, vs.

Although the probability of this event is very low, there is a 50% chance that it could happen in the next five days. This is something that people should be aware of and be prepared for.

  • It's been a tough week for shares of Fortinet, with the stock losing 18% over the past five trading days. That's compared to a more modest decline of 2.6% for the broader market (as measured by the S&P 500 index). Fortinet shareholders are surely hoping for a rebound in the days and weeks ahead.
  • A change of -18% or more over five trading days (one week) is a significant change in the stock market. This type of change can have a major impact on the economy and can cause a lot of uncertainty.
  • This stock has seen positive movement in the past when similar instances have occurred. There is a strong possibility that the stock will see positive movement again in the next five trading days.
  • Looking at this paragraph, it seems that there is a 50% chance that the stock will rise in the next five trading days. This is good news for investors, and it may be worth considering investing in this stock.

If you're looking for a more balanced portfolio, our high-quality portfolio and multi-strategy portfolio have both outperformed the market since 2016. With returns of 175% and 262%, respectively, these portfolios offer a great way to achieve diversification and mitigate risk.

FTNT Return Compared With Trefis Multi-Strategy Portfolio  Trefis
The FTNT return compared with the Trefis multi-strategy portfolio is impressive. The Trefis portfolio has outperformed the market by a wide margin, and the FTNT return is even more impressive.

The Trefis Price Estimates dashboard is a great tool for investors to get an idea of where a stock is trading relative to its intrinsic value. The dashboard provides users with a quick and easy way to see how various stocks are trading, and can help them make informed investment decisions.