Fortinet Stock Hits New 52-Week Low (FTNT)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Fortinet (Nasdaq: FTNT) hit a new 52-week low Tuesday as it is currently trading at $18.11, below its previous 52-week low of $18.15 with 101,141 shares traded as of 9:36 a.m. ET. Average volume has been 2.8 million shares over the past 30 days.

Fortinet has a market cap of $3.04 billion and is part of the technology sector and computer software & services industry. Shares are down 12.8% year to date as of the close of trading on Monday.

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 51.4, above the S&P 500 P/E ratio of 17.7.

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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 good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity. You can view the full Fortinet Ratings Report.

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