Shares of Fortinet (NASDAQ: FTNT) were pulling back last month as the cybersecurity company delivered solid results in its second-quarter earnings report, but its guidance seemed to fall shy of analyst expectations. 

In a market where investors are already turning away from growth stocks, that and delays in billings was enough to cause the stock to fall 18%, according to data from S&P Global Market Intelligence.

As you can see from the chart below, Fortinet fell sharply on Aug. 4 when its earnings report came out but mostly traded in line with the S&P 500 after that. 

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Source Fool.com