Comment on Why IT Security Company Fortinet Rose 10.5% in May

Why IT Security Company Fortinet Rose 10.5% in May

Stock in cybersecurity company Fortinet, Inc. (NASDAQ: FTNT) surged 10.5% in May according to data from S&P Global Market Intelligence. The catalyst for the move appears to be a strong, but somewhat confusing, set of first-quarter results given at the start of the month.The confusion stems from Fortinet starting its fiscal year by giving first-quarter and full-year guidance excluding the impact of the transition to the adoption of ASC 606, a new revenue recognition standard.

 

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