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Nov. 12, 2019, 10:07 a.m. EST

Fortinet, Palo Alto Networks stocks gain after bullish calls at Goldman

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By Emily Bary

Shares of Fortinet Inc. [ftnt], Palo Alto Networks Inc. [panw], and Verint Systems Inc. /zigman2/quotes/209184374/composite VRNT -0.04% are trading higher in Tuesday's session after Goldman Sachs analyst Brian Essex initiated coverage of the cybersecurity names with buy ratings. He began coverage of Check Point Software Inc. /zigman2/quotes/200866016/composite CHKP +0.40% , FireEye Inc. /zigman2/quotes/204730283/composite FEYE +3.31% , and Zscaler Inc. /zigman2/quotes/203585803/composite ZS +1.73% at hold and established a sell rating on shares of SecureWorks Corp. /zigman2/quotes/202179762/composite SCWX +3.57% . "Within our coverage universe, we prefer stocks of companies with favorable exposure to next-generation security, an ability to take share in key markets, a demonstrated ability to execute, and strong fundamentals with cash flow," Essex wrote. "Although high growth software stocks have pulled back over the past few months, we believe the market will continue to reward high-growth share gainers in the market with a premium to peers." The initiations come as the First Trust NASDAQ Cybersecurity ETF /zigman2/quotes/200078153/composite CIBR +1.66% has risen 27% so far in 2019. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% is up 23% in that time.

/zigman2/quotes/209184374/composite
US : U.S.: Nasdaq
$ 45.13
-0.02 -0.04%
Volume: 293,753
May 22, 2020 4:00p
P/E Ratio
106.01
Dividend Yield
N/A
Market Cap
$2.89 billion
Rev. per Employee
$234,278
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/zigman2/quotes/200866016/composite
US : U.S.: Nasdaq
$ 106.91
+0.43 +0.40%
Volume: 932,610
May 22, 2020 4:00p
P/E Ratio
19.36
Dividend Yield
N/A
Market Cap
$15.55 billion
Rev. per Employee
$418,810
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/zigman2/quotes/204730283/composite
US : U.S.: Nasdaq
$ 11.86
+0.38 +3.31%
Volume: 3.90M
May 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.64 billion
Rev. per Employee
$259,672
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/zigman2/quotes/203585803/composite
US : U.S.: Nasdaq
$ 76.94
+1.31 +1.73%
Volume: 1.33M
May 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.95 billion
Rev. per Employee
$231,369
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/zigman2/quotes/202179762/composite
US : U.S.: Nasdaq
$ 12.47
+0.43 +3.57%
Volume: 57,701
May 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.02 billion
Rev. per Employee
$199,081
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/zigman2/quotes/200078153/composite
US : U.S.: Nasdaq
$ 31.16
+0.51 +1.66%
Volume: 538,764
May 22, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,955.45
+6.94 +0.24%
Volume: 2.19B
May 22, 2020 5:09p
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