Why Did Fortinet Stock Drop 23% Last Month?
Shares of (NASDAQ: FTNT) dropped 22.5% in August, according to S&P Global Market Intelligence. The company reported quarterly earnings that were roughly in line with investor expectations. However, the cybersecurity leader's outlook had growth investors worried about the next few quarters.
Fortinet's quarterly earnings narrowly beat analyst estimates despite falling just short of Wall Street's revenue forecast. The company's top line rose by 26% over the prior year, which is a respectable rate of expansion. Unfortunately, some of its other metrics were less impressive.
Image source: Getty Images.
Source Fool.com
Fortinet Inc. Stock
€67.52
-0.380%
With 33 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a target price of 70 € there is a slightly positive potential of 3.67% for Fortinet Inc. compared to the current price of 67.52 €.
