Fortinet (FTNT) Is Up 6.72% in One Week: What You Should Know

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Fortinet (FTNT) - Fortinet currently holds a Momentum Style Score of B, indicating strong potential for momentum investing [3] - The company has a Zacks Rank of 2 (Buy), which is associated with a historical outperformance in the market [4] Price Performance - Over the past week, Fortinet shares have increased by 6.72%, while the Zacks Internet - Software industry remained flat [6] - In a longer timeframe, Fortinet's shares have risen by 15.73% over the past month, compared to the industry's 3.68% [6] - Over the last quarter, Fortinet shares have increased by 16.5%, and over the past year, they have risen by 51.95%, while the S&P 500 has only moved 1.43% and 21.95%, respectively [7] Trading Volume - Fortinet's average 20-day trading volume is 4,407,876 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, 13 earnings estimates for Fortinet have been revised upwards, while only 1 estimate was revised downwards, leading to an increase in the consensus estimate from $2.35 to$2.43 [10] - For the next fiscal year, 7 estimates have moved upwards with no downward revisions [10] Conclusion - Given the positive price trends, trading volume, and earnings outlook, Fortinet is positioned as a strong momentum pick with a 2 (Buy) rating and a Momentum Score of B [12]