Fortinet, IBD Stock Of The Day, Helps Companies Protect Valuable Data
The text is discussing Fortinet stock, which is close to a buy point. The stock has been consolidating and is close to forming a flat base.

IBD Stock Analysis
Stock is supported at the 21-day line, and close to a flat basis
Composite Rating
98/99
List of Industry Groups
123/197
Emerging Pattern
All data was taken at 2:25 PM EDT on 03/15/2023.
Fortinet (FTNT), the IBD Stock Of The Day is a provider of cybersecurity software that businesses use to create firewalls, intrusion detection system and antivirus programs. This helps companies protect their data. FTNT stock is close to a buy point.
After the February quarter results, shares of FTNT stock gapped higher in response to a fourth-quarter result on February 7. The quarter's revenue rose 33% to $1.28billion, which is just below analyst expectations. The adjusted earnings were 44 cents per share, an increase of 76%. This beat billings and estimates.
FTNT stock is now in a consolidation with a 63.12 purchase point. The company's relative strength line has reached its highest point since mid-July. Stock has seen support at the 21 day exponential moving average over the past weeks, and is now close to forming an even base.
In afternoon action, shares fell 1.6% to 59.94
A relative strength line is a way to identify the best stocks in a volatile market. This compares the stock's performance to that of S&P 500. If the RS line climbs, it means that the stock outperforms the benchmark index.
Stock of FTNT Near the Top in Relative Strength
The RS line can be used to identify top stocks that may soon break out or create new follow-on buy points. It can also be used to indicate a stock's reaching a peak.
IBD Stock Checkup has shown that FTNT stock has an IBD Composite rating of 98 out a best-possible 99. This rating indicates that Fortinet outperforms 98% all stocks. This is based on the most important technical and fundamental stock-picking criteria.
Fortinet's Relative Strength Rating is 87 out 99. This rating measures market leadership by comparing a stock’s price movements over the past 52 week to that of all stocks in IBD’s database.
FTNT stock also has a 99 best-possible EPS rating, which means that its quarterly and annual earnings growth exceeds that of 99% of other stocks.