More Boxes, More Problems (FTNT Q1 FY12/24 Earnings Review)
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Fortinet Q1 FY12/24 Earnings Review
Before you read this, take a look at today’s Palo Alto Networks earnings review, because all the same logic applies for all the same reasons. In short, FTNT printed perfectly reasonable but unexciting numbers; the stock looks technically as if it can move up; personally I hold no position because, well, the company makes boxes, cybersecurity is moving to in-network pure-play software (evidence, the superior growth rates enjoyed by ZScaler, Crowdstrike and so forth), and I can think of other things to do with the capital as a result.
As always, you will decide what works for you.
Let’s now take a detailed look at FTNT financials, valuation metrics, our stock rating and price targets.