Fortinet Stock Price, News & Analysis

Fortinet CEO Ken Xie has been appointed by U.S. Secretary of Commerce Gina Raimondo to the U.S. – Brazil CEO Forum, aimed at enhancing bilateral trade and investment.

The Forum, which comprises American and Brazilian CEOs, addresses crucial topics such as infrastructure, technology, workforce development, and regulatory reforms.

Fortinet remains committed to cybersecurity innovation and bridging the global skills gap through its NSE Training Institute programs.

Fortinet (NASDAQ: FTNT) has partnered with Carahsoft to provide Fortinet's Security Fabric solutions to the U.S. Federal Government. The collaboration is through the ITES-SW2 contract, effective until August 30, 2025, allowing federal agencies and authorized integrators to access commercial software products and services without fees. Fortinet aims to address the evolving cybersecurity needs of federal agencies by helping consolidate and automate their infrastructures, thereby supporting compliance and risk reduction.

Fortinet (NASDAQ: FTNT) announces significant enhancements to its FortiEDR solution, reflecting a 300% increase in customer adoption over the past year. These enhancements include new MITRE ATT&CK tags, expanded managed detection and response (MDR) services, and advanced endpoint detection capabilities. As ransomware threats evolve, FortiEDR aims to provide seamless protection and rapid response to cyber threats, ensuring organizations can defend against increasingly sophisticated attacks.

Fortinet (NASDAQ: FTNT) has partnered with ENGIE Italia to enhance security and visibility across 120 remote offices using its Secure SD-WAN and SD-Branch solutions. With the increase in remote sites, ENGIE faced challenges in network visibility and collaboration between IT and OT teams. Fortinet's solution has helped reduce connectivity costs while improving security and team efficiency, allowing ENGIE to respond more swiftly to threats. This strategic implementation also simplifies hardware management and optimizes cloud service access.

Fortinet (FTNT) reported strong financial results for Q1 2021, with total revenue of $710.3 million, a 23% increase year-over-year. Product revenue rose by 25% to $240.7 million, while service revenue grew 22% to $469.6 million. Billings reached $850.6 million, up 27%. The company’s GAAP operating margin stood at 17.1%, down 310 basis points. However, non-GAAP operating margin improved to 24.5%. Fortinet has raised its full-year guidance, expecting revenue between $3.080 billion and $3.130 billion.

Fortinet (NASDAQ: FTNT) has unveiled the FortiGate 7121F and FortiExtender 511F-5G, enhancing security for 5G networks. These solutions offer unmatched performance, with FortiGate 7121F providing 1.89 Tbps firewall throughput and high-speed threat protection and SSL inspection. The FortiExtender delivers flexibility for SD-WAN and SASE solutions. Fortinet's focus on 5G security aims to safeguard the expanding attack surface introduced by the 5G ecosystem, ensuring low latency and robust security for enterprises and mobile network operators.

BT and Fortinet have launched a managed secure SD-WAN service, enhancing connectivity and cybersecurity. This integrated solution combines security and networking, addressing the complexity of cyber threats and network management. Key benefits include improved performance, efficient operations, natively integrated security, and reduced costs. The partnership, longstanding for over a decade, reflects their commitment to delivering secure solutions for digital transformation. This service supports organizations in adapting to hybrid work models, securing applications and workloads in a distributed environment.

Fortinet (NASDAQ: FTNT) is enhancing its Training Advancement Agenda (TAA) to address the cybersecurity skills gap. The NSE Training Institute's initiatives include over 30 free technical training courses, new partnerships with organizations like Women in Cybersecurity and Stanford University, and support for nearly 400 educational institutions globally. Despite a reported decrease in security professionals needed from 4.07 million to 3.12 million in 2020, the skills gap remains a critical challenge. Recent achievements include reaching over 1,000,000 registrations for free courses and launching new certification programs.

Fortinet (NASDAQ: FTNT) announced a conference call scheduled for April 29, 2021, at 1:30 PM PT to discuss its Q1 2021 financial results. The call can be accessed at (877) 303-6913 domestically or (224) 357-2188 internationally. A live webcast and supplemental slides will be available on the Investor Relations page of Fortinet's website. A replay will also be available through May 6. Fortinet continues to lead in the cybersecurity market, securing numerous enterprises worldwide.