This Tech Stock Has Gone Parabolic, and You Should Consider Buying It Before It Soars Even Higher
(NASDAQ: FTNT) released its second-quarter 2024 results on Aug. 6, and the stock has witnessed a massive surge of 35% since then thanks to impressive growth in its revenue and earnings that were enough to help it beat Wall Street's expectations.
The cybersecurity specialist also raised its full-year revenue guidance. This further explains why the stock has made a parabolic move, a phenomenon that refers to the rapid increase in the share price of a company within a short time, just like the right side of a parabolic curve.
The good news for investors is that Fortinet stock could continue to head higher thanks to the company's focus on tapping fast-growing niches of the cybersecurity market, which should allow it to profit from a massive addressable market in the long run.
Source Fool.com
Fortinet Inc. Stock
With 32 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a target price of 70 € there is a slightly positive potential of 1.41% for Fortinet Inc. compared to the current price of 69.03 €.
