Why Fortinet Stock Is Surging Today

Why Fortinet Stock Is Surging Today

Investors were clamoring for a piece of the cybersecurity developer Fortinet (NASDAQ: FTNT) this morning after the company reported impressive fourth-quarter results. Fortinet reported non-GAAP earnings per share of $0.44 in Q4, up 76% from the year-ago period and surpassing analysts' average estimate of $0.39 per share. While it was an impressive gain, the figure was slightly lower than Wall Street's consensus estimate of $1.29 billion for the quarter.