Fortinet Stock Hits New 52-Week High (FTNT)

NEW YORK ( TheStreet) -- Fortinet (Nasdaq: FTNT) hit a new 52-week high Monday as it is currently trading at $28.62, above its previous 52-week high of $28.56 with 2.4 million shares traded as of 3:25 p.m. ET. Average volume has been 2.2 million shares over the past 30 days.

Fortinet has a market cap of $3.44 billion and is part of the technology sector and computer software & services industry. Shares are up 26.8% year to date as of the close of trading on Friday.

Fortinet, Inc., together with its subsidiaries, provides network security solutions to enterprises, service providers, and government entities worldwide. The company has a P/E ratio of 71.8, above 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 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 solid stock price performance. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and disappointing return on equity. You can view the full Fortinet Ratings Report.

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