Fortinet Stock Outlook: Is Wall Street Bullish or Bearish?

Valued at a market cap of $79.7 billion, Fortinet, Inc. (FTNT) provides cybersecurity and convergence of networking and security solutions to enterprises, service providers, and government entities. The Sunnyvale, California-based company’s offerings span network security, cloud protection, endpoint security, SASE, zero trust access, and security operations. 

Shares of this software company have considerably outpaced the broader market over the past 52 weeks. Fortinet has rallied 64% over this time frame, while the broader S&P 500 Index ($SPX) has gained 11.7%. Moreover, on a YTD basis, the stock is up 10.3%, compared to SPX’s 4.7% downtick.