Sequoia Financial Advisors sold 270 shares of
Fortinet, while
BNP Paribas Financial Markets purchased over 250k. Despite the market dip, there was an observed rise in the stock performance of
Fortinet. In the cybersecurity realm,
Fortinet is among those fortifying digital defenses. There is anticipation surrounding its Q2 2024 financial results.
Wealth Enhancement Advisory Services and
Norden Group took positions, trimming the holdings by a significant margin. The stock, amidst the uptick in market conditions, fell. However, the strong portfolio has prompted questions on the stock's worth. The Q1 earnings exceeded expectations and resulted in a sales rise. Nonetheless, a billing growth miss prompted an 8% fall in Fortinet's stocks. There were also reports of quarterly billings drop which partially affected their standing, even with the strong outlook presented. Expectations are high for their Q1 earnings, especially on key metrics. The stock climbed up by 1.8% from the last earnings report, but the market downturn has seen it sink recently. Analysts hold an average rating of 'Hold'. Under current circumstances, the stock appears to be undervalued by 26%, and the market’s overreaction seems unwarranted.
Fortinet FTNT News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sun, 07 Jul 2024 14:41:53 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -3
