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Fortinet Inc. (NASDAQ:FTNT) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.

Fortinet soared to a new 52-week high on Thursday, as investors resumed buying positions after a strong earnings performance in the first three months of the year and an upbeat outlook for the second quarter and the full-year period.

At intra-day trading, the stock climbed to a record high of $112.39 before trimming gains to finish the session just up by 20.03 percent at $107.97 apiece.

Photo from Fortinet website

In an updated report, Fortinet Inc. (NASDAQ:FTNT) said that it was able to grow its net income by 23 percent to $534.5 million from $433.4 million in the same quarter last year. Total revenues exceeded its earlier guidance of $1.7 billion to $1.76 billion, marking an increase of 20 percent to $1.85 billion, versus the $1.54 billion posted in the same comparable period.

Encouraged by the strong start to the year, Fortinet Inc. (NASDAQ:FTNT) raised its revenue growth forecast for the full-year period to a range of $7.71 billion to $7.87 billion, versus $7.5 billion to $7.7 billion previously.

Diluted non-GAAP earnings per share are also projected at $3.10 to $3.16, higher than the $2.94 to $3 as expected prior.

For the second quarter alone, Fortinet Inc. (NASDAQ:FTNT) is targeting revenues in the range of $1.83 billion to $1.93 billion, or an implied growth of 12 percent to 18.4 percent versus the $1.63 billion year-on-year.

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