The most recent trading session ended with Fortinet (FTNT) standing at $58.56, reflecting a +1.07% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.18%.Heading into today, shares of the network security company had lost 4.91% over the past month, lagging the Computer and Technology sector's gain of 6.77% and the S&P 500's gain of 3.15% in that time.Investors will be ...

SUNNYVALE, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- John Maddison, Chief Marketing Officer at Fortinet“Fortinet’s 2024 State of Operational Technology and Cybersecurity Report shows that while OT organizations are making progress in strengthening their security posture, teams still face significant challenges in securing converged IT/OT environments. Adopting essential tools and capabilities to enhance visibility and protections across the entire network will be vital for these organizations when it comes ...

Fortinet (FTNT) closed at $60.78 in the latest trading session, marking a +0.91% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.12%.Heading into today, shares of the network security company had lost 1.65% over the past month, outpacing the Computer and Technology sector's loss of 2.27% and lagging the S&P 500's gain of 4.15% in that time.Market participants will be closely following the financial results of F ...

Fortinet (FTNT) closed the latest trading day at $60.23, indicating a -0.64% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.23%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 0.34%.Heading into today, shares of the network security company had lost 0.18% over the past month, outpacing the Computer and Technology sector's loss of 2.01% and lagging the S&P 500's gain of 3.96% in that time.The investment community will be paying close attention ...

Fortinet (FTNT) has emerged as a leading cybersecurity company, offering a comprehensive suite of solutions to protect organizations from the ever-evolving threat landscape.The cybersecurity market is projected to continue to grow at a rapid pace, driven by the increasing frequency and sophistication of cyber threats.According to a report by MarketsandMarkets, the global cybersecurity market is expected to reach $308.8 billion by 2024, at a growth rate of 10% year over year.Higher IT spending on cybersecuri ...

Which of these cybersecurity giants has a brighter future?Palo Alto Networks (PANW 2.37%) and Fortinet (FTNT 0.62%) are two of the largest cybersecurity companies in the world. Both originally developed next-gen firewalls (NGFWs), which upgraded traditional firewalls with more robust network filtering tools, and they subsequently expanded their ecosystems with additional security services.Palo Alto Networks now operates three ecosystems: Strata for its NGFW and on-site networking tools, Prisma for its cloud ...

This cybersecurity leader is down but not out.Shares of Fortinet (FTNT -0.05%) are down 27% from their 52-week high. The sell-off stems from a string of weaker-than-expected results and slowing sales over the past year.Despite the recent volatility, investors shouldn't dismiss this cybersecurity leader that maintains a positive outlook. Let's explore why Fortinet shares could be poised for a rebound.The business is in a transitional yearFortinet's first-quarter earnings report released in early May (for the ...

Fortinet, Inc. (NASDAQ:FTNT) Conference Call Summary Company Overview - **Company**: Fortinet, Inc. - **Participants**: - Keith Jensen - Chief Financial Officer - John Maddison - Chief Marketing Officer - **Conference Date**: June 5, 2024 Industry Insights - **Industry**: Cybersecurity, specifically focusing on firewall and secure access service edge (SASE) technologies Key Points and Arguments Current Demand Environment - The macroeconomic environment is impacting demand, but there are early signs of positive movement in the market, particularly for firewalls and related technologies [5][6] - Fortinet is not expecting growth rates similar to those seen in 2022 but is cautiously optimistic about the second half of 2024 and into 2025 [5] Firewall Demand and Market Dynamics - The need for firewalls remains strong despite the rise of new technologies like SASE; the functionality of firewalls has become more distributed across various use cases [10] - The overall firewall market is expected to grow, although some specific use cases may see a decline [10] - Fortinet's strategy focuses on convergence and platform integration, which aligns with market trends towards integrated security solutions [8][16] SASE and Competitive Landscape - Fortinet is positioned to compete effectively in the SASE market, emphasizing the importance of integrating firewall capabilities with SASE solutions [34][39] - The company believes that a hybrid approach combining on-premises and cloud solutions will be essential for SASE deployment [55] Financial Performance - Recent financial results showed a 7% revenue growth, but billings were 6% below expectations due to backlog issues from the previous year [45][49] - Free cash flow remains strong, exceeding $600 million, indicating solid financial health despite some volatility in bookings [48] Product Portfolio and Growth Drivers - Fortinet's product portfolio includes SIEM, EDR, and identity management solutions, which are driving growth in the security operations segment [25][29] - The company is focusing on AI integration within its security operations to enhance efficiency and effectiveness [27] Customer Base and Market Strategy - Fortinet is targeting both existing customers and new accounts for its unified SASE offerings, with a particular focus on expanding its reach in the mid-market and enterprise segments [59] - The company is actively training its sales team and channel partners to ensure effective market penetration for its SASE solutions [57] Risks and Challenges - Potential risks include macroeconomic uncertainties, evolving threat landscapes, and the rapid pace of technological change in cybersecurity [62] - The company acknowledges the challenges posed by AI advancements in cyber threats, which could impact the security landscape [62] Additional Important Insights - Fortinet's ASIC technology remains a competitive advantage, particularly for high-performance applications like DDoS protection [22] - The integration of various security functionalities into a single operating system is a key differentiator for Fortinet in the market [20][21] This summary encapsulates the critical insights from the Fortinet conference call, highlighting the company's strategic positioning, market dynamics, and financial performance.

Fortinet, Inc. (NASDAQ:FTNT) Bank of America Global Technology Conference June 5, 2024 1:40 PM ET Company Participants Keith Jensen - Chief Financial Officer John Maddison - Chief Marketing Officer Conference Call Participants Tal Liani - Bank of America Tal Liani So I want to welcome John Maddison, Chief Marketing Officer, and Keith Jensen, CFO. I've known both of them for many years, and we have a lot of discussion, a lot of topics to discuss. Before we start, I think you need to read us something from h ...

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