Fortinet is securing major monetary interest

Fortinet provides cybersecurity solutions for enterprises, communications service providers, governments, and small and medium-sized businesses. It supports customers with network security, secure access, network, security operations, application security and operational technology.

FTNT has a market cap of nearly $63 billion and annual revenue of $5.5 billion, resulting in an operating margin of 26.1%. With an impressive three-year revenue growth rate of 29.6%, the company outperforms 85% of its peers in the software industry. Additionally, FTNT has a global customer base of over 700,000, giving it a significant market share.

It’s no wonder FTNT shares are up 38% this year – and they could go higher. Data from MAPsignals shows how a rare bullish signal reflects major investors are betting big on the stock’s future prospects.

Big money caught in Fortinet

Institutional volumes reveal a lot. Over the last year, FTNT has enjoyed strong investor demand, which we believe is due to institutional support.

Each green bar signals unusually large volumes in FTNT stock. They reflect our proprietary inflow signal and drive the stock higher:

Numerous technology stocks are currently being accumulated. But there’s an important, fundamental story happening with Fortinet.

Fortinet fundamental analysis

Institutional support and a healthy fundamental environment make this venture worthwhile. As you can see, FTNT is experiencing strong sales and profit growth:

Source: FactSet

Additionally, EPS is expected to grow +9.3% this year.

Now it makes sense why the stock has reached new heights. FTNT has a track record of strong financial performance.

By combining great fundamentals with our proprietary software, some great winning stocks have been found over the long term.

Fortinet has been one of the best-rated stocks on MAPsignals for years. This means the stock is facing unusual buying pressure and growing fundamentals. We have a ranking process that presents such stocks on a weekly basis.

It has been included in the rare top 20 report several times in the last five years, with more on the way. The blue bars below show when FTNT was a top pick… and sent shares higher:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks have…the best of the best. The great demand for money drives stocks higher.

Fortinet price prediction

The FTNT rally is not new at all. Large cash purchases in stocks signal attention. Given its historical gains and strong fundamentals, this stock could be worth a place in a diversified portfolio.

The story continues

Disclosure: The author does not hold a position at FTNT at the time of publication.

If you are a Registered Investment Advisor (RIA) or a serious investor, take your investing to the next level and learn more about the MAPsignals process here.

This article was originally published on FX Empire

More from FXEMPIRE: