Why Fortinet Stock Is Plummeting Today
Shares of leading cybersecurity juggernaut (NASDAQ: FTNT) were down 8% as of 1:15 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.
The next-gen firewall specialist reported first-quarter earnings on Wednesday and delivered 14% sales growth alongside record-setting free cash flow (FCF).
However, with the company trading at 44 times FCF prior to earnings, the market expected perfection from Fortinet, and management's guidance didn't live up to these hopes.
Source Fool.com
Fortinet Inc. Aktie
68,55 €
0,29 %
Mehr Buy- als Sell-Zahlen bei Fortinet Inc. zeigen ein leicht positives Sentiment.
Bei einem Kursziel von 103 € für Fortinet Inc. deutet sich eine Steigerung von über 50% vom aktuellen Kurs von 68.55 € an.
