Fortinet Rises On Unusually High Volume (FTNT)
NEW YORK (
) --
(Nasdaq:
) is trading at unusually high volume Wednesday with 8.8 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $2.63 (+11.5%) at $25.44 as of 12:50 p.m. ET.
Fortinet has a market cap of $3.44 billion and is part of the
sector and
industry. Shares are up 4.6% year to date as of the close of trading on Tuesday.
Fortinet, Inc., together with its subsidiaries, provides network security appliances and unified threat management (UTM) network security solutions to enterprises, service providers, and government entities worldwide. The company has a P/E ratio of 57.7, below the average computer software & services industry P/E ratio of 58 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Fortinet as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full
.
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