NEW YORK (
TheStreet) -- Shares of
Fortinet (Nasdaq:
FTNT) were gapping up Thursday morning with an open price 11.7% higher than Wednesday's closing price. The stock closed at $22.39 Wednesday and opened today's trading at $25.01.
The average volume for Fortinet has been 2.1 million shares per day over the past 30 days. Fortinet has a market cap of $3.5 billion and is part of the
technology sector and
computer software & services industry. Shares are up 2.7% year to date as of the close of trading on Wednesday.
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 57, equal to the average computer software & services industry P/E ratio 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 growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, premium valuation and disappointing return on equity. You can view the full
Fortinet Ratings Report.
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