Honeywell, BAE Systems, Lockheed, AT&T, IBM, Intel, Raytheon, HP, Booz Allen, Cisco Systems and EMC are all, of course, well-known … security companies? Indeed, the ranks of computer security vendors range far beyond the pure-play makers of security software such as Symantec (SYMC), Palo Alto Networks (PANW) and Fortinet (FTNT). That defense contractors and big tech companies are moving into, or deeper into, security is no surprise given the
The cybersecurity industry group has been rallying in the wake of high-profile hacks, but one group member is now seen as somewhat of a laggard. Baird and Citigroup downgraded their ratings on Fortinet (FTNT) to neutral, though they raised their price targets. The analysts said that although Fortinet has seen success with branching out its business in the U.S., it’s not on as much of an upward trajectory as some industry peers. Fortinet shares
CyberArk Software shares are making a big move on the stock market today as the Security-Software industry group rallies. Late Monday, group peer Fortinet (FTNT) posted its biggest quarterly billings growth since its IPO in 2009. Fortinet has an IBD Composite Rating of 84 out of 99, and it gapped up to a new high on Tuesday. CyberArk (CYBR) has a 99 Composite Rating. It also gapped up on Tuesday, clearing a 63.08 buy point from a cup-with-handle