Why Fortinet, CrowdStrike, and Palo Alto Networks Stocks Zoomed Higher Today
Wednesday is shaping up to be a good day to own cybersecurity stocks: Powerful fourth-quarter earnings from network security company (NASDAQ: FTNT) sent its stock up by 3%, and provided a tailwind to shares of peers CrowdStrike (NASDAQ: CRWD), and Palo Alto Networks (NASDAQ: PANW). Through 11:45 a.m. ET, those two stocks were up 5.8% and 7%, respectively.
Reporting its fourth-quarter results Tuesday after the close, Fortinet beat expectations on both the top and bottom lines. Instead of the $0.43 per share (adjusted) profit on $1.41 billion in sales it was expected to report, the company earned $0.51 per share on sales of $1.42 billion.
TheFly.com has counted no fewer than 16 analysts raising their price targets on Fortinet in response to its report. And yet, how good was Fortinet's news, actually?
Source Fool.com
Fortinet Inc. Stock
With 34 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 positive potential of 28.02% for Fortinet Inc. compared to the current price of 54.68 €.
