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Fly News Breaks for October 27, 2015
FTNT
Oct 27, 2015 | 09:40 EDT
JPMorgan analyst Sterling Auty believes the market was concerned that Fortinet's billings growth in Q3 had fallen under 30% on an organic basis. He points out the company this morning reported that its billings grew 33% year-over-year when the Meru contribution is excluded. Auty believes the company's billings and "attractive" cash flow growth support a "much higher" stock price relative to current levels. He keeps an Overweight rating on the name.
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