Got $100? This Unstoppable Stock Could Double Your Money in 5 Years
The stock market is showing remarkable resilience in 2023 following a big clobbering in 2022. The S 500 has gained just over 7% so far this year. Cooling inflation, a potential pause in interest rate hikes by the Federal Reserve, and a solid job market are key reasons why major benchmarks have ticked higher this year despite a banking crisis and concerns of a potential recession.
This resiliency offers some proof that the stock market is a good place to park one's funds, especially in the long run, as it tends to deliver healthy gains despite periods of volatility.
(NASDAQ: FTNT) is one such stock that delivered impressive returns over the years despite bouts of volatility. For example, a $100 investment in Fortinet stock five years ago is now worth almost $570. The cybersecurity specialist delivered average gains of almost 42% a year over the past five years. The good part is that it is in fine form in 2023 as well, up 40% so far. But more importantly, it seems capable of multiplying a $100 investment impressively over the next five years, too. Let's look at the reasons why.
Source Fool.com
Fortinet Inc. Stock
With 37 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a target price of 69 € there is a positive potential of 31.43% for Fortinet Inc. compared to the current price of 52.5 €.
