Over the last 10 years, FTNT has finished with nine monthly gains in February
Fortinet Inc (NASDAQ:FTNT) has had a strong start to the year, up 10.4% in January, even with today’s negative price action. Though the reason for the dip is unclear, FTNT was last seen down 3.2% at $64.56.
Recently, the stock has been gaining traction with traders and has been one of the most popular stocks on Zacks.com. The activity will likely continue to ramp up, too, as the cybersecurity name reports fourth-quarter earnings after the close on Tuesday, Feb. 6.
The upcoming month tends to be an interesting one for FTNT. Per Schaeffer’s Senior Quantitative Analyst Rocky White, the stock tops the list of the best S&P 500 Index (SPX) stocks to own in February. Fortinet stock finished the month higher nine times out of 10 over the past decade, averaging a 9.2% return.
On the charts, FTNT has been on the rise since its November post-earnings bear gap, with strong support from its 20-day moving average since December. Though the shares are on track to snap a three-day win streak today, perhaps the pullback could be an decent entry point for the month ahead.
