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

Core Insights - Zacks Premium offers various tools to help investors make informed decisions and invest confidently in the stock market [1][2] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum methodologies, aiding investors in selecting stocks likely to outperform the market in the next 30 days [2][3] - Stocks are rated from A to F, with A indicating the highest potential for outperformance [3] Value Score - The Value Score identifies attractive and discounted stocks using ratios like P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - The Growth Score focuses on a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - The Momentum Score helps investors capitalize on price trends, using factors like one-week price change and monthly earnings estimate changes [5] VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for evaluating stocks based on value, growth, and momentum [6] Zacks Rank - The Zacks Rank is a proprietary stock-rating model that utilizes earnings estimate revisions to simplify portfolio building [7] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] Stock Selection Strategy - Investors should prioritize stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal success [9] - Stocks with lower ranks but high Style Scores may still face downward earnings forecasts, increasing the risk of price declines [10] Company Spotlight: Fortinet (FTNT) - Fortinet, headquartered in Sunnyvale, CA, specializes in network security solutions and holds a Zacks Rank of 2 (Buy) with a VGM Score of B [11] - The company has a Momentum Style Score of B, with shares increasing by 1.7% over the past four weeks [11] - Recent analyst revisions have raised Fortinet's earnings estimate for fiscal 2024 by $0.04 to$2.24 per share, with an average earnings surprise of 23.6% [12]