Is It Too Late to Buy Fortinet Stock?
's (NASDAQ: FTNT) stock plunged 25% on Aug. 4, after the company posted a mixed second-quarter earnings report. The cybersecurity company's revenue rose 25% year over year to $1.29 billion, narrowly missing analysts' estimates by $10 million, but its adjusted earnings grew 58% to $0.38 per share and cleared the consensus forecast by $0.04.
Fortinet's headline numbers looked healthy, but an unexpected reduction to its full-year revenue forecast rattled the bulls and sparked a broad sell-off across the cybersecurity sector. Does that grim warning suggest it's too late to buy Fortinet?
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Source Fool.com
Fortinet Inc. Stock
€55.75
0.850%
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
As a result the target price of 70 € shows a positive potential of 25.56% compared to the current price of 55.75 € for Fortinet Inc..
