Shares of Fortinet (Nasdaq:FTNT) were gapping up Thursday morning with an open price 20.3% higher than Wednesday's closing price. The stock closed at $19.35 yesterday and opened today's trading at $23.28.
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) -- Shares of Fortinet (Nasdaq: FTNT) were gapping up Thursday morning with an open price 20.3% higher than Wednesday's closing price. The stock closed at $19.35 Wednesday and opened today's trading at $23.28.
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The average volume for Fortinet has been 2.4 million shares per day over the past 30 days. Fortinet has a market cap of $3.37 billion and is part of the technology sector and computer software & services industry. Shares are down 6.2% 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 53.3, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Fortinet as a buy. 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, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Fortinet Ratings Report. Get more investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.