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Why Fortinet Stock Surged Higher This Week

TheMotleyFool

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Why Fortinet Stock Surged Higher This Week: https://g.foolcdn.com/editorial/images/720335/technician-checking-data-cloud-server.jpg

Week to date, shares of Fortinet (NASDAQ: FTNT) were up 8.7% as of 11:38 a.m. on Friday, according to data provided by S&P Global Market Intelligence. The cybersecurity company continued to show why it's well positioned for growth. It delivered earnings ahead of the Street's estimate, with revenue growth accelerating for the third consecutive year.

However, slowing billings growth could be a headwind for higher share price gains in the near term.

Market share gains and strong product revenue growth of 42.5% in the fourth quarter were healthy signs for the company's future. These numbers speak to the company's solid competitive position.

Source Fool.com

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