NEW YORK (TheStreet) -- Every now and then growth investors come to a point when they have to make certain critical decisions about a stock. None is more important than when they realize that the momentum needed to keep a growth story going is starting to evaporate.One such example is security giant Fortinet ( FTNT). While the company can go a few more quarters producing above-average growth, I worry that too much of its valuation assumes competition will just roll over and concede the market. However, its most recent quarter suggests otherwise.
It is possible Fortinet is expecting competition to ramp up or that the company is being overly conservative. I think it's a combination of both.