Fortinet Stock Price, News & Analysis

Fortinet (NASDAQ: FTNT) has been recognized as a Visionary in the 2021 Gartner Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure for the second consecutive year. This acknowledgment highlights Fortinet's dedication to innovation and its ability to integrate security features with its LAN Edge solution, which utilizes AI and machine learning. The solution offers built-in Network Access Control (NAC) and aims to reduce total cost of ownership (TCO) while simplifying management and improving performance across networks.

Fortinet has announced a multi-year partnership with the European Tour, acting as both the Official Tour Partner and Official Cybersecurity Partner. This collaboration aims to enhance the Tour’s digital innovation through Fortinet's advanced security solutions. With events attracting up to 25,000 attendees daily, Fortinet will provide its Security Fabric platform to improve security analytics and response capabilities while implementing a zero-trust approach. The partnership also extends to protecting the Tour's hybrid cloud environment, enhancing operational speed and security control.

Fortinet announced an expanded collaboration with Microsoft to integrate its FortiGate-VM and Secure SD-WAN with Microsoft Azure Virtual WAN. This integration enables advanced security policies for virtual WAN traffic, promoting simplified and secure cloud operations. Notable benefits include one-click deployment, advanced security features for data transport, and enhanced interconnectivity across hybrid and multi-cloud environments. Organizations can leverage Fortinet's capabilities to address digital innovation while minimizing complexity.

Fortinet (NASDAQ: FTNT) has forecasted significant changes in the cybersecurity landscape for 2022 and beyond. Cybercriminals are evolving their tactics, increasingly resembling advanced persistent threat (APT) groups. Predictions include a rise in destructive ransomware attacks, enhanced reconnaissance efforts, and the use of AI for deep fakes and social engineering. FortiGuard Labs emphasizes the need for organizations to adopt a Security Fabric platform based on a cybersecurity mesh architecture to defend against these evolving threats.

Fortinet (FTNT) reported a robust third quarter of 2021, achieving total revenue of $867.2 million, a 33% year-over-year increase. Product revenue surged by 51% to $337.1 million, while service revenue rose 24% to $530.1 million. Billings hit $1.06 billion, marking a 42% year-over-year increase. GAAP diluted net income per share was $0.97, up from $0.75 in Q3 2020. Fortinet's guidance for Q4 2021 expects revenue between $940 million and $970 million. The company also authorized a $1.25 billion increase in its share repurchase program.

Fortinet (NASDAQ: FTNT) has announced a comprehensive solution to enhance cybersecurity for the work-from-anywhere model. By integrating its zero trust, endpoint, and network security solutions within the Fortinet Security Fabric, Fortinet provides seamless security for users, regardless of their location. The company emphasizes the increase in remote work due to the pandemic, with forecasts indicating 60% of employees will work remotely by 2024. It also highlights the rise in ransomware attacks, with incidents increasing nearly 1100% from June 2020 to June 2021.

Fortinet Federal, a subsidiary of Fortinet (NASDAQ: FTNT), announced that 26 additional Fortinet Security Fabric solutions have achieved Department of Defense Information Network (DoDIN) Approved Products List certification. This certification allows these products to be sold to DoD agencies, enhancing cybersecurity capabilities. Additionally, the Defense Information Systems Agency published a FortiGate Security Technical Implementation Guide (STIG), offering DoD administrators guidance for secure deployment. These advancements support the U.S. government's mission-critical cybersecurity needs.