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. Stock
€66.74
-0.510%
With 9 Buy predictions and 11 Sell predictions the community is currently undecided on Fortinet Inc..
With a target price of 64 € there is a slightly negative potential of -4.11% for Fortinet Inc. compared to the current price of 66.74 €.
