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Here's Why Fortinet Rose 16% in October

TheMotleyFool

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Fortinet (NASDAQ: FTNT) stock jumped 16.3% last month, according to data provided by S&P Global Market Intelligence, due to a positive research note from a high-profile analyst, along with momentum for growth stocks and the cybersecurity industry.

There was no major news about Fortinet in October, and the stock closely followed some of its peers throughout the month. The popular cybersecurity stocks have strong growth prospects and fairly high valuation multiples, so they can experience big price swings without major catalysts.