Fortinet Stock Price, News & Analysis

Fortinet (NASDAQ: FTNT) has announced significant updates to its secure networking portfolio at its Accelerate 2023 conference. Key innovations include a new Hybrid Mesh Firewall designed for data centers and cloud environments, enhancing security and performance by integrating advanced AI/ML technologies. The FortiGate 7080F NGFW series boasts a performance increase of up to 5x faster than industry standards. Additionally, improvements to the Secure SD-WAN and integration of FortiSASE with FortiManager promise enhanced management and visibility across hybrid networks. These advancements address the growing complexity of secure networking as organizations transition towards integrated security solutions.

Fortinet (NASDAQ: FTNT) has announced significant updates to its Network Security Expert (NSE) Certification program, aiming to address the cybersecurity skills gap and enhance training for professionals. These changes, effective later this year, will provide more flexible pathways for individuals, aligning training with job roles such as Cloud Security Specialists and Security Operations Analysts. Notably, the NSE designations are evolving to include Fortinet Certified Expert, Engineer, Professional, Associate, and Fundamentals. These updates reflect Fortinet's commitment to bridging the skills gap and responding to the increasing demand for cybersecurity talent.

Fortinet has announced enhancements to the Fortinet Security Fabric with new capabilities aimed at improving cybersecurity. Key innovations include FortiOS 7.4, aimed at consolidating security products into a unified platform. Recent Gartner research indicates that 75% of organizations are pursuing vendor consolidation, highlighting a shift toward more integrated solutions. Fortinet's offerings now include advanced threat detection and response across five key areas: Endpoint Security, SOC Automation, AI-Powered Threat Intelligence, Identity and Access, and Application Security.

Fortinet (NASDAQ: FTNT) announced a conference call scheduled for May 4, 2023, at 1:30 p.m. PT to discuss its first quarter financial results. The call will be available in listen-only mode via the company's investor relations website, with access recommended 10 minutes prior to the start. Prepared remarks and a replay will follow on their Quarterly Earnings page. Fortinet is recognized for its extensive cybersecurity portfolio and vast customer base, ensuring enhanced security across various platforms.

Fortinet Research Highlights Cybersecurity Talent Shortage Impact

Fortinet's 2023 Global Cybersecurity Skills Gap Report reveals a 53% increase in organizations experiencing five or more breaches, demonstrating the urgency of addressing the cybersecurity talent shortage. The report indicates a need for 3.14 million professionals to fill gaps, with 68% of organizations reporting additional cyber risks due to unfilled positions. Fortinet aims to train 1 million people in cybersecurity by 2026 to help mitigate these challenges.

Fortinet (NASDAQ: FTNT) announced a successful deployment of its Secure SD-WAN solution by Emirates National Oil Company (ENOC), enhancing operational efficiency and customer experience. The implementation led to a 55% reduction in costs associated with MPLS and significantly improved network performance, achieving an 18x decrease in POS transaction time. ENOC's transition from a managed MPLS service to Fortinet's SD-WAN has resulted in a 4x increase in network speed and eliminated downtime, thus strengthening security measures. This digital transformation is part of ENOC's AED 250 million investment plan aimed at advancing customer service.

Fortinet has announced significant updates to FortiSASE, enhancing its integrated single-vendor SASE solution. These upgrades aim to improve security and deployment flexibility for organizations utilizing hybrid workforces. Key enhancements include improved integration with FortiGate Secure Edge, which allows for both on-premises and cloud security operations, and enhancements in secure access for private applications, SaaS, and internet services. A recent survey indicated that 55% of businesses support hybrid work, emphasizing the need for robust security solutions like FortiSASE.

Fortinet (NASDAQ: FTNT) CEO Ken Xie has been reappointed to the U.S.-Brazil CEO Forum by U.S. Secretary of Commerce Gina Raimondo. This role emphasizes Fortinet's commitment to cybersecurity and workforce development, aiding in recommendations for better bilateral trade and investments between the U.S. and Brazil. Established in 2007, the forum includes top CEOs from both countries, focusing on enhancing economic and commercial ties. Xie's involvement aims to foster public-private partnerships to combat cybercrime and improve cyber training initiatives. Fortinet remains dedicated to its mission of reducing cyber risks and enhancing training accessibility.

On March 2, 2023, BetterInvesting Magazine announced that Fortinet Inc. (NASDAQ: FTNT) is its "Stock to Study," while Peabody Energy Corp. (NYSE: BTU) is designated as the "Undervalued Stock" in its May 2023 issue. The Editorial Advisory Committee emphasizes the significance of investing in high-quality growth companies amid economic uncertainty, citing recent bankruptcies as a cautionary tale. Investors are encouraged to explore BetterInvesting's tools for analyzing FTNT's and BTU's potential, with an emphasis on educating themselves before making investment decisions.