Fortinet revenue soars 33.7 pct on higher demand for security software

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Fortinet's (FTNT) Beat + Guide Down = Neutral - Piper Jaffray

April 27, 2016 8:48 AM EDT

Piper Jaffray analyst, Andrew Nowinski, maintained his Neutral rating on Fortinet (NASDAQ: FTNT) after results beat expectations but the company guided below consensus. The price target goes to $33 from $30.

Fortinet reported Q1 revenue of $284.6M (cons $273.5M), which solidly exceeded the Street... More