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
70,20 €
2,87 %
Bei Fortinet Inc. herrscht Gleichgewicht zwischen 10 Buy- und 10 Sell-Einschätzungen.
Das von der Community festgelegte Kursziel von 70 € für Fortinet Inc. wurde mit dem aktuellen Kurs von 70.2 € erreicht.
