Fortinet and NetSuite to Open Near 52-Week Highs

Fortinet (NASDAQ: FTNT) and NetSuite (NYSE: N) reached new 52-week highs of $26.26 and $38.13 per share, respectively, in Friday's trading session.

Fortinet, which recently partnered with Indian tech firm Sify (NASDAQ: SIFY), has been speculated about as a takeover target for a company such as Oracle (NASDAQ: ORCL). Fortinet offers network security products and services to financial services, telecommunications, government, retail, education, technology, health care and manufacturing customers. It has a market cap of $3.9 billion.

Its return on equity is 21.5% and the long-term EPS growth forecast is 17.0%. The company reports no long-term debt, and revenue for the current year is expected to be 23.2% higher than a year ago. The stock has grown more than 60% over the past year, outperforming competitors Cisco Systems (NASDAQ: CSCO) and Checkpoint Software (NASDAQ: CHKP), as well as the broader markets.

NetSuite has seen institutional sponsorship increase for six straight quarters, and Credit Suisse analysts recently offered an upbeat report on the company following its first-ever user conference. The company has a $2.5 billion market cap and it provides customer relationship management and enterprise resource planning software to small and midsized companies.

Netsuite's long-term EPS growth forecast is 26.2% and revenue for the current year is expected to be 19.1% higher than last year. The share price has risen nearly 50% year to date, outperforming the business software and services industry average and competitor Salesforce.com (NYSE: CRM) as well as the broader markets.