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Fortinet Shares Hit $127.40 Low as Growth Slows, Services Outlook Weakens

The company beat expectations and raised its outlook last week, but slower product growth and a weaker services outlook weighed on shares.

Updated 1 min read
Employees enter an office campus in Sunnyvale, California, on an overcast morning / EconoTimes.ai
Employees enter an office campus in Sunnyvale, California, on an overcast morning / EconoTimes.ai

Fortinet shares hit a post-earnings low of $127.40 Thursday.

Slower product growth and a weaker services outlook weighed on Fortinet shares. The company nevertheless beat expectations and raised its outlook last week.

Traders use “support” for a zone where demand may interrupt a decline.

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