Could Fortinet Stock Help You Become a Millionaire?
(NASDAQ: FTNT) went public in 2009 at a split-adjusted price of $1.25 per share. If you had invested $20,000 in the cybersecurity company's IPO, your investment would be worth about $1.12 million today.
Fortinet repeatedly impressed the bulls with its robust growth rates. From 2009 to 2023, its revenue grew at a compound annual growth rate (CAGR) of 24% as its billings rose at a CAGR of 25%. Its adjusted operating margin doubled from 14% to 28%, while its adjusted net income increased at a CAGR of 31%.
Those growth rates are impressive, but can Fortinet turn $20,000 into $1,000,000 again over the next two decades?
Source Fool.com
Fortinet Inc. Stock
€69.38
-0.730%
With 32 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a current price of 69.38 € Fortinet Inc. is right around the predicted target price of 70 €.
