Fortinet Rises On Unusually High Volume (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) is trading at unusually high volume Tuesday with 5.4 million shares changing hands. It is currently at two times its average daily volume and trading up $1.07 (+4.5%) at $24.80 as of 3:46 p.m. ET.

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Fortinet has a market cap of $3.84 billion and is part of the technology sector and computer software & services industry. Shares are up 14.2% 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 45.3, 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, growth in earnings per share, increase in net income and good cash flow from operations. 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.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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