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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 +1.82% 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 +0.15% , FireEye Inc. /zigman2/quotes/204730283/composite FEYE -0.12% , and Zscaler Inc. /zigman2/quotes/203585803/composite ZS -2.24% at hold and established a sell rating on shares of SecureWorks Corp. /zigman2/quotes/202179762/composite SCWX +3.78% . "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 +0.0061% has risen 27% so far in 2019. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.95% is up 23% in that time.

/zigman2/quotes/209184374/composite
US : U.S.: Nasdaq
$ 52.02
+0.93 +1.82%
Volume: 262,644
Dec. 6, 2019 10:55a
P/E Ratio
68.57
Dividend Yield
N/A
Market Cap
$3.41 billion
Rev. per Employee
$234,278
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/zigman2/quotes/200866016/composite
US : U.S.: Nasdaq
$ 113.48
+0.17 +0.15%
Volume: 97,836
Dec. 6, 2019 10:53a
P/E Ratio
22.13
Dividend Yield
N/A
Market Cap
$17.25 billion
Rev. per Employee
$418,810
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/zigman2/quotes/204730283/composite
US : U.S.: Nasdaq
$ 16.35
-0.02 -0.12%
Volume: 230,465
Dec. 6, 2019 10:55a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.55 billion
Rev. per Employee
$259,672
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/zigman2/quotes/203585803/composite
US : U.S.: Nasdaq
$ 47.03
-1.08 -2.24%
Volume: 1.42M
Dec. 6, 2019 10:55a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.16 billion
Rev. per Employee
$231,369
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/zigman2/quotes/202179762/composite
US : U.S.: Nasdaq
$ 15.10
+0.55 +3.78%
Volume: 214,217
Dec. 6, 2019 10:54a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.18 billion
Rev. per Employee
$199,081
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/zigman2/quotes/200078153/composite
US : U.S.: Nasdaq
$ 29.71
+0.0018 +0.0061%
Volume: 20,993
Dec. 6, 2019 10:51a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,147.17
+29.74 +0.95%
Volume: 413.41M
Dec. 6, 2019 10:55a
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