3 Reasons Fortinet Remains a Best-in-Class Cybersecurity Stock After the Q1 2021 Report
Leading cybersecurity company Fortinet (NASDAQ: FTNT) put up some impressive numbers to kick off 2021. Revenue advanced 23% year over year to $710 million and adjusted net income was up 29% to $136 million, and full-year expectations were given an upgrade from management. As the economy slowly finds its feet again, the company is discovering plenty of new outlets for its diversified security services, including in 5G, edge computing, and data centers.
Share prices are up 35% so far this year alone, so Fortinet is no longer the undervalued and underappreciated stock it was last year. Nevertheless, the company has a long track record of double-digit percentage growth. It's easily on pace to keep that run going in 2021. Here are three reasons why
Cloud-based software security providers were all the rage last year, and for good reason. The world is rapidly migrating to cloud computing, and services delivered via the internet demand a new type of solution to keep data safe. But securing physical assets is still a must. Data centers and sprawling networks are needed to build the mobile world in which we now live, and Fortinet's products are some of the best in the industry.
Source Fool.com
