Fortinet (FTNT) : Traders are bullish on Fortinet (FTNT) as it has outperformed the S&P 500 by a margin of 4.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.81% in the last 1 week, and is up 12.07% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Fortinet (NASDAQ:FTNT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.96 and $34.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $35.76, notching a gain of 3.03% for the day. The total traded volume was 1,597,976 . The stock had closed at $34.71 on the previous day.
The stock has recorded a 20-day Moving Average of 8.93% and the 50-Day Moving Average is 7.16%. Fortinet Inc. is up 14.84% in the last 3-month period. Year-to-Date the stock performance stands at 14.73%.
Fortinet, Inc. provides cyber security solutions to enterprise, service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data, applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW), Data Center Firewalls (DCFW), Unified Threat Management (UTM) systems, Internal Network Firewall (INFW), Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers, and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.