Fortinet Shows Strength With Rising Composite Rating

Fortinet (FTNT) saw an improvement in its IBD SmartSelect Composite Rating Monday, from 94 to 96. Fortinet is now out of buy range after clearing the 152.05 buy point in a cup without handle.


The revised score means Fortinet currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.

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Fortinet stock earns a 98 EPS Rating, which means its recent quarterly and annual earnings growth tops 98% of all stocks. The cybersecurity firm’s Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.

Last Thursday, Fortinet reported better-than-expected Q1 results and raised the full-year outlook. Revenue also surpassed consensus estimates. Fortinet stock rose 4.5% on Friday nearly matching the gains it made over the previous four weeks.

In Q1, Fortinet reported 35% earnings growth. Top line growth climbed 23%, up from 21% in the prior quarter. The company has now posted increasing growth in each of the last three reports.

Fortinet earns the No. 1 rank among its peers in the Computer Software-Security industry group. Proofpoint (PFPT) and Crowdstrike Holdings (CRWD) are also among the group’s highest-rated stocks.


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