Key TakeawaysThe S&P 500 lost 0.8% on Wednesday, Aug. 7, 2024, as the prior day's stock market rebound failed to maintain its momentum.Super Micro Computer shares lost ground after the company missed profit estimates.Record operating margins helped cybersecurity firm Fortinet top quarterly forecasts, and its shares surged. Major U.S. equities indexes reversed early gains to close lower on Wednesday, as Tuesday's stock market rebound failed to maintain its momentum. The S&P 500 slipped 0.8%, while the Nasdaq ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34511 ______________________________________ FORTINET, INC. (Exact name of registrant as specified in its char ...

Key TakeawaysCybersecurity firm Fortinet topped quarterly sales and profits, boosted by record operating margins, and its shares skyrocketed.Fortinet maintains a strong position in the Secure Access Service Edge (SASE) market.Jefferies analysts increased their price target on Fortinet stock, citing its margin expansion. Fortinet (FTNT) shares took off Wednesday after the cybersecurity firm released a strong set of financial results, posting its highest-ever quarterly operating margin while topping sales and ...

Fortinet (NASDAQ:FTNT) stock is up a staggering 25% today after reporting strong second-quarter earnings results. Indeed, the cybersecurity stock led Wall Street in the morning as the top gainer.Fortinet managed to hardily beat both earnings and revenue estimates in its fiscal second quarter. The company reported earnings of 57 cents per share on revenue of $1.43 billion, compared to estimated earnings of 41 cents on $1.40 billion.This has, predictably, earned the admiration of many a Wall Street analyst, i ...

See how Fortinet outperformed expectations in Q2 2024 and what it means for investors.Shares of Fortinet (FTNT 25.75%) jumped as much as 24.8% higher on Wendesday morning, boosted by a strong earnings report. By 10:30 a.m., the cybersecurity veteran's stock had backed down slightly to a 22.4% gain.Fortinet's second quarter by the numbersFortinet's second-quarter revenue rose 11% year over year, landing at $1.43 billion. Product sales decreased by 4.4% while service revenues jumped 19.8% higher.On the bottom ...

JHVEPhoto/iStock Editorial via Getty Images Investment Thesis Fortinet, Inc. (NASDAQ:FTNT) delivered strong Q2 2024 results that gave investors precisely what they craved, namely, better revenue growth rates, with substantially better profitability. Investors cheered, sending this stock to jump more than 15% premarket. Furthermore, I have revised my neutral rating on this stock to a buy, as I believe that paying around 20x next year's non-GAAP operating profits, together with its very strong balance sheet, ...

Fortinet Inc. (FTNT) reported strong second-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.Fortinet reported second-quarter 2024 non-GAAP earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate by 39.02%. The bottom line climbed 50% from the year-ago quarter’s earnings of 38 cents per share.Total revenues of $1.43 billion beat the consensus mark by 2.31% and improved 10.9% year over year, driven by strong grow ...

Key TakeawaysFortinet shares surged in premarket trading on Wednesday after the cybersecurity solutions provider raised its full-year revenue outlook, as enterprise customers increase spending to protect their data and applications from cyberattacks.The company's better-than-expected earnings report looks set create a bullish stock gap on the chart that could lead to a longer-term upside reversal.Amid a post-earnings rally, Fortinet shares could test important chart levels including $62.50, $69, and $73.50. ...

Security threats are on the rise. These companies are tackling them head-on. The recent CrowdStrike failure -- in which millions of computers were rendered temporarily useless -- is causing some investors to reflect on cybersecurity stocks. But while CrowdStrike's software error may worry investors who are considering entering the industry, I think there's another takeaway from the disaster: Every company is dependent on cybersecurity. There's been a 75% increase in cloud-computing intrusions over the past ...

Fortinet, Inc. (NASDAQ:FTNT) Q2 2024 Earnings Conference Call August 6, 2024 4:30 PM ET Company Participants Aaron Ovadia - Director of Investor Relations Ken Xie - Founder, Chairman & Chief Executive Officer Keith Jensen - Chief Financial Officer John Whittle - Chief Operating Officer Conference Call Participants Brian Essex - JPMorgan Hamza Fodderwala - Morgan Stanley Fatima Boolani - Citi Gabriela Borges - Goldman Sachs Tal Liani - Bank of America Rob Owens - Piper Sandler Shaul Eyal - TD Cowen Brad Zeln ...