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
89,64 €
-0,13 %
Hohe Buy- und niedrige Sell-Zahlen bei Fortinet Inc. zeigen ein stark positives Sentiment.
Das Kursziel von 99 € für Fortinet Inc. weist auf ein leicht positives Potenzial gegenüber dem aktuellen Kurs von 89.64 € hin.
