Leading cybersecurity company Fortinet (NASDAQ: FTNT) At the start of the year 2021, impressive numbers were drawn up. Revenue increased 23% year over year to $ 710 million and adjusted net income increased 29% to $ 136 million. Management improved expectations for the full year. As the economy takes hold, the company is discovering numerous new outlets for its diversified security services, including 5G, edge computing, and data centers.
Share prices are up 35% this year alone, no longer making Fortinet the undervalued and underrated stock it was last year. Nevertheless, the company can look back on many years of double-digit percentage growth. It’s easy to keep this run going in 2021. Here are three reasons for that
1. Product sales are making a comeback
Cloud-based software security providers have been all the rage over the past year for good reason. The world is rapidly migrating to cloud computing and services …