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Here's Why Fortinet (FTNT) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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Fortinet (FTNT)

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.

FTNT boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 7.4% year-over-year for 2024, while Wall Street anticipates its top line to improve by 9.2%.

13 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.06 to $1.75 per share for 2024. FTNT boasts an average earnings surprise of 13.6%.

Looking at cash flow, Fortinet is expected to report cash flow growth of 34.6% this year; FTNT has generated cash flow growth of 34.5% over the past three to five years.

Investors should take the time to consider FTNT for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Fortinet, Inc. (FTNT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research