- While FireEye's (NASDAQ:FEYE) Q4 2016, various executive transitions and future outlook impact shares to 16% declines, Fortinet's (FTNT +12.9%) contrastingly positive Q4 report is received as more representative of the sector overall.
- Noted by J.P. Morgan analyst Sterling Auty, large deal strength and enterprise demand at Fortinet align more so with commentary already out of other security firms than with issues at FireEye, which are considered more company-specific.
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Related – Palo Alto Networks (PANW +2.5%), Barracuda Networks (CUDA +1.8%), CyberArk Software (CYBR +1.7%), Proofpoint (PFPT +2%), Check Point Software Technologies (CHKP +0.3%), Imperva (IMPV -1.1%)
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ETFs – (HACK +0.5%), (CIBR +1.1%)
- Yesterday (February 2, 2017): FireEye -19.8%; Q4 2016 revenue and Q1 2017 projections miss expectations, several transitions in management disclosed
- Yesterday (February 2, 2017): Fortinet +10.8%; Q4 2016 confident, 2017 projections in line or better