Shares of Fortinet Inc. /zigman2/quotes/205733290/composite FTNT -0.63% rallied 1.91% to $316.06 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +0.44% rising 0.88% to 4,509.37 and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% rising 0.69% to 35,455.80. This was the stock's third consecutive day of gains. Fortinet Inc. hit a new 52-week high, surpassing its previous peak of $311.57, which the company reached on August 26th.
The stock outperformed some of its competitors Friday, as Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO -0.0091% fell 0.30% to $59.02, HP Inc. /zigman2/quotes/203461582/composite HPQ +0.18% fell 0.62% to $28.92, and Palo Alto Networks Inc. /zigman2/quotes/207599953/composite PANW -0.55% rose 0.84% to $461.28. Trading volume (891,000) remained 43,234 below its 50-day average volume of 934,234.