NEW YORK (

TheStreet

) --

Fortinet

(Nasdaq:

FTNT

) hit a new 52-week high Wednesday as it traded at $44.04 compared with its previous 52-Week high of $43.99. Fortinet is changing hands at $43.60 with 15,155 shares traded as of 9:32 a.m. ET. Average volume has been 863,800 shares over the past 30 days.

Fortinet has a market cap of $3.2 billion and is part of the

technology

sector and

computer hardware

industry. Shares are up 34.2% 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 79.8, equal to the average computer hardware industry P/E ratio and above the S&P 500 P/E ratio of 16.1.

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TheStreet Ratings rates Fortinet as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share. You can view the full

Fortinet Ratings Report

.

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