Over the past 52 weeks, a seemingly unlikely winner has emerged among cybersecurity stocks. That stock is Fortinet (NASDAQ: FTNT). The stock has provided a 52-week total return of 50% as of the Mar. 25 close. This surpasses the returns of much more talked-about cybersecurity stocks like Palo Alto Networks (NASDAQ: PANW) and CrowdStrike (NASDAQ: CRWD). Those stocks have provided total returns of 33% and 19%, respectively.
So, what is behind this stock’s impressive rise, and can Fortinet continue this strong performance? Multiple interesting catalysts exist that could help push the stock higher. One relates to the firm’s use of semiconductors.
