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NEW YORK (

TheStreet

) --

Fortinet

(Nasdaq:

FTNT

) hit a new 52-week high Friday as it is currently trading at $48.54, above its previous 52-week high of $48.50 with 549,385 shares traded as of 12:13 p.m. ET. Average volume has been 865,900 shares over the past 30 days.

Fortinet has a market cap of $3.1 billion and is part of the

technology

sector and

computer hardware

industry. Shares are up 47.7% year to date as of the close of trading on Thursday.

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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 78.7, equal to the average computer hardware industry P/E ratio and above the S&P 500 P/E ratio of 17.

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TheStreet Ratings rates Fortinet as a

hold

. 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 notable return on equity. 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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