|Bid||127.45 x 1100|
|Ask||127.47 x 1100|
|Day's Range||126.30 - 128.62|
|52 Week Range||70.20 - 151.95|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||53.37|
|Earnings Date||Oct 29, 2020 - Nov 02, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||139.45|
Fortinet (NASDAQ: FTNT) has been on a tear of late. Its business has received a shot in the arm thanks to an increase in demand for cybersecurity solutions, making it one of the top growth stocks in recent months. Fortinet's billings increased 14.3% annually during the quarter to $711.5 million, below Wall Street's $712.1 million estimate.
Most of the cybersecurity firms came up with stronger-than-expected earnings, outpacing the Zacks Consensus Estimate for both earnings and revenues.
In the face of a pandemic, social distancing, and an economic crisis, technology stocks have been a bulwark against an otherwise forgettable year for investing. Three I have my eye on are Fortinet (NASDAQ: FTNT), Universal Display (NASDAQ: OLED), and Cloudflare (NYSE: NET). While it still has a foot firmly planted in legacy firewalls (physical devices that protect a specific footprint, like an office), it has been developing new services for more modern IT needs in-house (supplemented with a few small acquisitions).