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Should You Buy Fortinet On The Dip?

The cybersecurity market is one that continuously creates challenges and opportunities. Players in this market include internet security experts, criminals, and governments, while others participate by simply being the victims or the customers of the aforementioned.

Companies and individuals are constantly faced with potential cyber attacks which are coordinated by cyber criminals by planting malware, spyware, and phishing programs into their computers through spam programs and emails. One of the most popular attacks right now is a malware dubbed ransomware Zepto File Virus, which is planted into your computer using a spam email for the purposes of demanding ransom.

Such viruses and associated criminals are making the cybersecurity industry once again interesting after undergoing a hiatus period over the last twelve months. Most stocks in this industry hit peak price levels mid last year but now have lost about a third of their market values since then.

One of the most popular players in the cybersecurity industry is Fortinet (FTNT), which is a technology company that provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide. The company’s stock price is currently down 37% trading at about $30.70 since hitting a multi-year high of about $48 in July last year.

A majority of this drop came about over the last few days after the company declined by a double-digit figure to mark an end to what appeared to be a route back to the top.

The company’s most recent plunge in stock price came as a result of weak guidance on upcoming results, with billings and revenue set to grow at the slowest rate since 2013. Investors interpreted this announcement as a signal that the...