FORTINET INC (NASDAQ:FTNT) – A Strong Growth Stock with Technical Breakout Potential

FORTINET INC (NASDAQ:FTNT) was identified by our screener as a strong growth stock with a favorable technical setup. The company combines solid fundamentals with a promising price pattern, making it worth a closer look.

Strong Growth Fundamentals

FTNT stands out with an overall fundamental rating of 7/10, supported by:

• Growth (8/10): Revenue has grown by 22.46% annually over recent years, while earnings per share (EPS) increased by 36.84% yearly. Future revenue is expected to rise by 13.70%, indicating sustained momentum.
• Profitability (9/10): The company boasts high margins, including a 30.60% profit margin and 31.67% operating margin, outperforming most peers.
• Financial Health (8/10): A strong balance sheet with manageable debt (Debt/Equity of 0.25) and a solid Altman-Z score (7.13) suggest low bankruptcy risk.

Technical Setup

The stock scores 10/10 on technical strength, with:

• Positive Trends: Both short-term and long-term trends are upward, supported by rising moving averages.
• Support Levels: Key support zones exist near $97.42-$100.07, providing a potential floor for pullbacks.
• Breakout Potential: Resistance at $107.67 could be tested, and a move above this level may signal further upside.

FTNT has outperformed 93% of all stocks over the past year and ranks in the top 14% of its industry.

For a deeper dive, review the full fundamental report and technical analysis.

Our Strong Growth Stocks with Good Technical Setup screener lists more stocks matching these criteria.

Disclaimer

This is not investing advice! The article highlights observations at the time of writing, but you should conduct your own analysis before making investment decisions.