Fortinet Technologies logo sign on the building_ Ottawa, ON, Canada – October 15, 2023_ Fortinet is a cybersecurity company_By JHVEPhoto
Fortinet (FTNT) demonstrates strong momentum, with a 98% gain over the past year.
FTNT is projected to grow revenue 19.41% this year and 10.97% next year, with earnings expected to rise 25.02% and 8.95%, respectively.
Analyst sentiment is broadly positive with price targets ranging from $102 to $220.
Technical indicators and investor sentiment suggest FTNT still has room to run, supported by robust fundamentals and moderate short interest.
Today’s Featured Stock
Valued at $117 billion, Fortinet (FTNT) is a provider of network security appliances and Unified Threat Management network security solutions to enterprises, service providers, and government entities worldwide. Its solutions are designed to integrate multiple levels of security protection, including firewall, virtual private networking (VPN), antivirus, intrusion prevention, web filtering, anti-spam and wide area network acceleration.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. FTNT checks those boxes. The Trend Seeker issued a new “Buy” signal on July 31. Since then, the stock has declined 3.25%.
More News from Barchart
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Barchart’s Technical Indicators for Fortinet
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Fortinet scored an all-time high of $172.09 on Aug….
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