Fortinet Inc (FTNT)
Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 1.59% per annum.
- FTNT price at the close of November 19, 2024 was $90.79 and was higher than the top border of the primary price channel by $13.39 (17.30%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 174.94% per annum.
- FTNT price at the close of November 19, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of FTNT price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: July 2, 2021
End date: August 12, 2024
a = 4.0467
b = 0.0000
s = 0.1117
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 1.59%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1117) – 1
= 56.34%
July 2, 2021 calculations
Top border of price channel:
Exp(Y406)
= Exp(a + b × X406 + 2 × s)
= Exp(a + b × 590 + 2 × s)
= Exp(4.0467 + 0.0000 × 590 + 2 × 0.1117)
= Exp(4.2956)
= $73.38
Bottom border of price channel:
Exp(Y406)
= Exp(a + b × X406 – 2 × s)
= Exp(a + b × 590 – 2 × s)
= Exp(4.0467 + 0.0000 × 590 – 2 × 0.1117)
= Exp(3.8487)
= $46.93
August 12, 2024 calculations
Top border of price channel:
Exp(Y1,187)
= Exp(a + b × X1,187 + 2 × s)
= Exp(a + b × 1,727 + 2 × s)
= Exp(4.0467 + 0.0000 × 1,727 + 2 × 0.1117)
= Exp(4.3447)
= $77.07
Bottom border of price channel:
Exp(Y1,187)
= Exp(a + b × X1,187 – 2 × s)
= Exp(a + b × 1,727 – 2 × s)
= Exp(4.0467 + 0.0000 × 1,727 – 2 × 0.1117)
= Exp(3.8978)
= $49.29
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 1.59% per annum.
- FTNT price at the close of November 19, 2024 was $90.79 and was higher than the top border of the primary price channel by $13.39 (17.30%).
Secondary Trend
Start date: May 28, 2024
End date: November 19, 2024
a = -0.5672
b = 0.0028
s = 0.0644
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0028) – 1
= 174.94%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0644) – 1
= 29.36%
May 28, 2024 calculations
Top border of price channel:
Exp(Y1,135)
= Exp(a + b × X1,135 + 2 × s)
= Exp(a + b × 1,651 + 2 × s)
= Exp(-0.5672 + 0.0028 × 1,651 + 2 × 0.0644)
= Exp(4.1363)
= $62.57
Bottom border of price channel:
Exp(Y1,135)
= Exp(a + b × X1,135 – 2 × s)
= Exp(a + b × 1,651 – 2 × s)
= Exp(-0.5672 + 0.0028 × 1,651 – 2 × 0.0644)
= Exp(3.8789)
= $48.37
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(-0.5672 + 0.0028 × 1,826 + 2 × 0.0644)
= Exp(4.6213)
= $101.62
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(-0.5672 + 0.0028 × 1,826 – 2 × 0.0644)
= Exp(4.3638)
= $78.56
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 174.94% per annum.
- FTNT price at the close of November 19, 2024 was inside the secondary price channel.