Fortinet Stock Price, News & Analysis

Fortinet has launched the FortiGate Cloud-Native Firewall (CNF) on Amazon Web Services (AWS), providing a managed next-generation firewall service tailored for cloud environments. This solution integrates FortiGuard AI security services for real-time threat detection and protection, simplifying security operations for organizations transitioning to the cloud. Key benefits include optimized costs for region-wide protection, simplified operations through cloud-native integrations, and enhanced compliance with consistent security across deployments.

Fortinet (NASDAQ: FTNT) will participate in the Annual Meeting on Cybersecurity 2022, hosted by the World Economic Forum in Geneva from November 14-16. CEO Ken Xie emphasized the importance of making the internet safer as cyber threats continue to rise. Fortinet will engage in discussions on scalable methods to combat emerging cybercrime threats and work on closing the cybersecurity skills gap. The firm aims to mitigate risks through its collaboration with global entities.

Fortinet (NASDAQ: FTNT) forecasts a rise in cybercrime fueled by Cybercrime-as-a-Service (CaaS) in a recent report from its global threat intelligence team. This report highlights the dangers of evolving attack methods, including Ransomware-as-a-Service (RaaS) and new exploit vectors targeting edge devices and online environments. Increased automation and commoditized wiper malware are expected to escalate attacks, making security measures more essential. The report emphasizes the necessity for organizations to bolster cybersecurity with integrated threat intelligence and effective response strategies.

Fortinet (FTNT) announced Q3 2022 results, revealing total revenue of $1.15 billion, a 33% year-over-year increase, driven by product revenue of $468.7 million (+39%) and service revenue of $680.8 million (+28%). Billings rose to $1.41 billion, and deferred revenue reached $4.19 billion. GAAP diluted net income per share was $0.29, while non-GAAP diluted net income per share was $0.33. Fortinet expects Q4 revenue between $1.275 billion and $1.315 billion.

Fortinet (NASDAQ: FTNT) announced enhancements to its FortiSASE solution, integrating cloud-delivered SD-WAN with security features to improve secure private access for users. This unified approach aims to enhance user experience and security for over 20,000 customers. Gartner predicts that by 2025, one-third of SASE deployments will involve single-vendor solutions, showing a significant market shift. Fortinet's advancements include improved support for Secure Private Access and Secure SaaS Access, representing a major step in converging networking and security services.

Fortinet announces its role as the Official Cybersecurity Partner for the BMW Ladies Championship, scheduled for October 20-23, 2022, at Oak Valley Country Club, South Korea. This sponsorship marks Fortinet's first engagement with the LPGA and its debut in Asia. The tournament features a competitive lineup of 78 players vying for a $2 million prize pool. Fortinet aims to promote inclusion and diversity in women’s professional golf while addressing the global cybersecurity skills gap through various training initiatives.

Fortinet (NASDAQ: FTNT) has partnered with Chandler Unified School District, Arizona's second largest district, to provide its over 5,200 faculty and staff with free cyber awareness training.

This initiative, part of a broader program for K-12 schools in the U.S., aims to enhance cybersecurity knowledge and reduce cyber risks. The training is tailored to recognize threats like social engineering and complies with NIST guidelines. Fortinet's service is acknowledged as a certified program by local governments, further validating its importance in safeguarding sensitive data.

Fortinet (NASDAQ: FTNT) announced a conference call to discuss its financial results for Q3 2022, scheduled for November 2 at 1:30 p.m. PT. The call will be streamed live on the investor relations website. Fortinet is recognized as a leader in cybersecurity solutions, trusted by over 595,000 customers globally. The company's Security Fabric provides comprehensive protection across various digital platforms, emphasizing its commitment to safeguard data and devices.