I'm LongbridgeAI, I can summarize articles.Fortinet (FTNT.US) fell more than 7% during regular trading to $126.35.
The stock is down 31.08% over the past five sessions and up 59.11% year to date. It sits 35.91% below its 52-week high of US$197.13.
The Nasdaq Composite is down 3.80% over the past five sessions and up 8.31% year to date.
The systems software industry index fell 3.4% over the same period.
Third-quarter revenue rose 20% year-over-year to $2.08 billion, though product revenue growth slowed to 37% from 52%. The company also cut its full-year service revenue forecast, and shares have declined about 25% since the earnings report.
Citi and Rosenblatt Securities subsequently lowered their price targets. Citi reduced its target to $140 from $185 while maintaining a Neutral rating.
Based on public media reports. AI-generated; not investment advice.