SUNNYVALE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its first quarter 2024 financial results on Thursday, May 2, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company’s investor relations website at http://investor.fortinet.com. ...

The use of artificial intelligence (AI) systems in the cybersecurity industry is growing at a nice clip. Last year, AI-focused cybersecurity spending stood at an estimated $24 billion, but this figure is expected to be nearly $134 billion in 2030, according to a forecast by Statista.As such, now would be a good time for investors to buy shares of cybersecurity companies that are aggressively integrating AI tools into their platforms. Fortinet (FTNT 1.55%) is one such company, leveraging AI to drive stronger ...

Fortinet (FTNT) closed the latest trading day at $67.55, indicating a +1.24% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.82%.The the stock of network security company has fallen by 2.57% in the past month, lagging the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 1.76%.The upcoming earnings release of Fortin ...

Fortinet Inc (NASDAQ:FTNT) stock is up 2% at $68.06 at last check, as it trades within one standard deviation of its 50-day moving average, a historically bullish trendline that has provided tailwinds in the past. The shares already boast a 16% lead for 2024, and could soon make another run at a ceiling at the $74 level.  Per Schaeffer's Senior Quantitative Analyst Rocky White's data, the security saw at least two similar signals in the last three years, defined for this study as having traded north of this ...

According to Statista, the cybersecurity industry was worth just shy of $300 billion in 2022 and is projected to approach $540 billion by the decade's end. This underlines how serious corporations have become about protecting themselves and their data against hackers and malicious actors.It's an opportunity no long-term investor should skip past. The companies providing next-generation security solutions could grow for years to come.Palo Alto Networks (PANW -1.88%), SentinelOne (S -5.15%), and Fortinet (FTN ...

SUNNYVALE, Calif., March 11, 2024 (GLOBE NEWSWIRE) -- John Maddison, Chief Marketing Officer at Fortinet"The industry is finally realizing that networking and security need to be converged. Traditional networking products try and bolt security on top; Fortinet builds secure WLAN/LAN products with security built in from the ground up. Even with thin edge applications, we've integrated our cloud-based security, FortiSASE, to drive seamless, secure connectivity. Further, we are heavily investing in AIOps to r ...

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Windstream Enterprise (WE), a leading IT managed services provider, today unveiled Secure Flex Premium, a comprehensive suite of advanced technology solutions powered by Fortinet® (NASDAQ: FTNT) that provides a fully customizable cybersecurity infrastructure aimed to address the current and future network security needs of each unique customer. Through a bespoke technology package built upon one’s existing on-premises, hybrid or cloud environment, Secure Flex Premium prov ...

It has been about a month since the last earnings report for Fortinet (FTNT) . Shares have added about 1.8% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Fortinet due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Fortinet Q4 Earnings Beat Estimates, Sales Rise Y/Y ...

Fortinet, Inc. (NASDAQ:FTNT) Management presents at Morgan Stanley's Technology, Media & Telecom Conference March 5, 2023 5:05 PM ET Company Participants Ken Xie - Chairman and CEO Keith Jensen - CFO Conference Call Participants Hamza - Cybersecurity analyst at Morgan Stanley Hamza Fodderwala All right. Good afternoon, everybody. Thank you for joining us. My name is Hamza. I'm the cybersecurity analyst here at Morgan Stanley. And with me, I'm really excited to have the team from Fortinet here. We have Ken X ...

Fortinet, Inc. (NASDAQ:FTNT) Conference Call Summary Company Overview - **Company**: Fortinet, Inc. - **Industry**: Cybersecurity - **Event**: Morgan Stanley's Technology, Media & Telecom Conference - **Date**: March 5, 2023 Key Points Industry Dynamics - The cybersecurity market is undergoing significant changes, particularly in the convergence of networking and security [3][4] - By 2030, the network security market is projected to surpass the networking market, driven by new use cases and the need for security in OT/IoT environments [4][5][7] Market Growth and Projections - Fortinet anticipates network security growth rates of 10% to 20% annually over the next five to ten years, despite a current forecast of single-digit growth due to market distortions from previous years [8][9][51] - The company has seen substantial growth in product revenue, doubling over the past few years, but is currently experiencing a digestion phase in certain verticals [9][10] Strategic Initiatives - Fortinet is focusing on expanding its offerings beyond traditional network security to include SASE (Secure Access Service Edge) and SecOps [3][18] - The company has revamped its go-to-market strategy to better align with these newer areas, increasing the number of Points of Presence (PoPs) for SASE from 30 to over 150 [20][21] Competitive Positioning - Fortinet claims to be the only company developing its own ASIC technology for network security, which helps lower costs and improve performance [7][59] - The company has a significant installed base, with over 700,000 customers, which it plans to leverage for upselling SASE solutions [25][37] Financial Performance - Fortinet's pricing strategy allows it to offer competitive rates, with costs around 20% to 30% lower than competitors [59] - The company aims for a baseline operating margin of 25%, which it has consistently exceeded [61] Customer Engagement - Conversations with CIOs and CISOs have shown improved sentiment towards budgets for 2024 compared to the previous year, indicating a potential recovery in spending [12] - Fortinet has seen a strong interest in SASE solutions, with many customers inquiring about it during recent meetings [34] Future Outlook - The company expects to benefit from the enterprise refresh cycle, particularly as a significant portion of its business comes from large enterprises [16][17] - Fortinet is optimistic about the growth potential in OT/IoT security, which is expected to become a larger market than SD-WAN over time [54] Challenges and Considerations - The current market is fragmented, with many customers hesitant to rely on a single vendor for all security needs [46][48] - Fortinet acknowledges the need to train its sales force and partners to effectively sell SASE, as it is a relatively new offering for them [23][42] Conclusion - Fortinet is strategically positioned to capitalize on the growing cybersecurity market, with a focus on integrating networking and security solutions, expanding its SASE offerings, and leveraging its existing customer base for future growth [4][18][25]