There’s $14 billion up for grabs in fiscal 2016 cybersecurity spending by the sector’s biggest customer — the federal government — and Palo Alto Networks (PANW), FireEye (FEYE), Fortinet (FTNT) and CyberArk Software (CYBR) are vying for their respective chunks of cash. But some are doing better than others. FireEye stock plunged to a record low 21.75 on Nov. 5 after reporting Q3 sales that missed Wall Street views and guiding below consensus
Depressed Q3 European sales forced FireEye (FEYE) stock to a record low Thursday, leading an FBN Securities analyst to suggest Palo Alto Networks (PANW), Cisco Systems (CSCO), Fortinet (FTNT) or Check Point Software (CHKP) could make a play for the company. FireEye hit a record-low 21.75 — several dollars below the previous all-time low — after plunging 24% in the stock market today on the cybersecurity firm’s Q3 revenue and Q4 sales outlook
Fortinet (FTNT) issued underwhelming guidance late Thursday as it reported Q3 earnings, triggering a sharp sell-off in most cybersecurity stocks Friday, including FireEye (FEYE) and Palo Alto Networks (PANW) on Friday. The Sunnyvale, Calif.-based Fortinet earned 14 cents a share in the third quarter, up 16.7% from a year earlier and beating by two cents estimates of analysts polled by Thomson Reuters. Revenue rose 34.5% to $260.1 million, topping