2024-03-12 11:24:46 ET
Summary
- Fortinet has suffered from a revenue decline since the March 2023 quarter and its billings show this is likely to continue.
- At the same time, one of its competitors is offering free trials in a bid to lure customers.
- Therefore, the level of uncertainty is high, and the stock will likely be volatile.
- Still, it is a highly profitable stock that has refocused its strategy on key product areas while possessing the ASIC differentiator.
- Balancing out, Fortinet is a Hold.
After having recouped most of its losses since its August 2023 drop of nearly 20%, Fortinet, Inc. ( FTNT ) seems to be at a crossroads. Its share price has been hovering between the $71 and $73 range for some time now with both Wall Street and Quant having Hold ratings as the stock trades at a hefty 220 times forward sales....
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For further details see:
Fortinet: Adapting To New Dynamics Of Cybersecurity Industry