The Zacks Rank Explained: How to Find Strong Buy Computer and Technology Stocks
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It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Fortinet (FTNT) for Your Portfolio?
Fortinet was upgraded to the Zacks Rank #1 list on October 24, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in Sunnyvale, CA, Fortinet, Inc. is a provider of network security appliances and Unified Threat Management (UTM) network security solutions to enterprises, service providers and government entities worldwide.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.03 to $2.03 per share. FTNT boasts an average earnings surprise of 20.4%.
Earnings are forecasted to see growth of 24.5% for the current fiscal year, and sales are expected to increase 10.3%.
Additionally, FTNT has climbed higher over the past four weeks, gaining 4.9%. The S&P 500 is up 1.5% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Fortinet could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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