Will Fortinet's Earnings Show What Other Cybersecurity Stocks Will Look Like?

Andrew Chanin was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

PureFunds CEO Andrew Chanin, manager of the only pureplay cybersecurity ETF, the PureFunds ISE Cyber Security ETF HACK, discussed cybersecurity stocks.

Chanin mentioned Fortinet Inc FTNT and noted that investors often look to Fortinet as an indicator for how other cybersecurity stocks will perform because it reports early in the quarter.

Fortinet reported earnings on Monday and beat on both revenue and earnings.

Related Link: Cybersecurity Expert Favors FireEye, CyberArk Over Palo Alto

Chanin was cautions about using this as an indicator, however, because cybersecurity companies often specialize in certain areas, and one stock may not adequately reflect the overall performance of the market.

The advantage of an EFT, such as HACK, is that it allows investors to have exposure to a full spectrum of cybersecurity plays, in Chanin’s view.

Fortinet recently traded at $38.07, down 0.03 percent.

Listen to the show here: