Fortinet Stock Price, News & Analysis

Fortinet (FTNT) has been named the Preferred Partner of the NHL Vancouver Canucks for the 2024-2025 season. Canucks Sports & Entertainment (CSE) has implemented Fortinet's Security Fabric platform to protect its data center, secure Rogers Arena, and connect various facilities. The deployment includes a FortiGate Next-Generation Firewall cluster and Secure SD-WAN platform to streamline security operations. Fortinet's presence in Canada includes over 2,600 employees, $200 million in infrastructure investments, and partnerships with 30 academic institutions. The company aims to train 1 million people globally in cybersecurity by 2026.

Fortinet (NASDAQ: FTNT) announced the opening of a new 215,000-square-foot, 10-story building in Atlanta, Georgia, representing an investment of over $15 million. The facility will serve as a Fortinet Innovation Hub, featuring a FortiCloud Point of Presence, Executive Briefing Center, Cyber Training Facility, and expanded Customer Support. The building will contribute to regional growth and job development, while strengthening the company's global expansion strategy. The hub will enhance customer service capabilities and foster partnerships in the region where Fortinet has operated for 24 years.

Fortinet (NASDAQ: FTNT) has appointed Janet Napolitano to its Board of Directors, strengthening its cybersecurity leadership with her extensive national security and public policy expertise. Napolitano, former Secretary of Homeland Security (2009-2013) and Governor of Arizona (2003-2009), will advise on CISA's Secure by Design Pledge and enhance collaboration with global security stakeholders. Currently serving as founder and faculty director of the Center for Security in Politics at UC Berkeley, Napolitano also holds board positions at Vir Biotechnology, Zoom, and RAND This appointment aligns with Fortinet's mission to advance global cybersecurity resilience and secure digital infrastructure.

Fortinet (NASDAQ: FTNT) has announced plans to host an Analyst Day on November 18, 2024, in New York City, marking its 15-year IPO anniversary. The event will feature company executives sharing insights on cybersecurity's future, strategy updates, and financial outlook. Ken Xie, Founder and CEO, emphasized the company's leading role in cybersecurity evolution and commitment to innovation.

Prior to the main event, Fortinet will ring the Nasdaq Opening Bell to commemorate its public trading milestone. The Analyst Day presentation will be available via live broadcast in listen-only mode through the company's investor relations website. The event highlights Fortinet's two-decade journey in shaping cybersecurity through integrated solutions and strategic partnerships.

Fortinet (FTNT) reported strong Q3 2024 financial results with total revenue of $1.51 billion, up 13% year-over-year. Service revenue grew 19.1% to $1.03 billion, while product revenue increased 1.7% to $473.9 million. The company achieved record GAAP operating margin of 31.2% and non-GAAP operating margin of 36.1%. Cash flow from operations reached $608.1 million, with free cash flow of $571.8 million. The board authorized a $1 billion increase in share repurchase program, bringing total authorization to $2.03 billion. Fortinet raised its 2024 revenue guidance to $5.856-$5.916 billion.

Fortinet (NASDAQ: FTNT) has announced the expansion of its generative AI capabilities with two new FortiAI integrations. The first addition, FortiAI for FortiNDR Cloud, enables threat hunters to efficiently analyze detections and assess coverage against emerging threats. The second, FortiAI for Lacework FortiCNAPP, helps SOC teams understand alerts and streamline remediation with step-by-step guidance. These additions bring the total number of Fortinet products featuring GenAI integration to seven, demonstrating the company's commitment to enhancing cybersecurity through AI innovation.

Fortinet (NASDAQ: FTNT) announced its participation in the World Economic Forum's Annual Meeting on Cybersecurity in Geneva from November 11-13, 2024. Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence, will moderate a panel discussion on countering cybercrime through public-private partnerships. As a founding member of the Forum's Centre for Cybersecurity, Fortinet has contributed to the Cybercrime Atlas initiative, helping vet over 10,000 actionable data points, creating seven intelligence packages, and supporting two cross-border disruption campaigns. The meeting addresses growing concerns as the World Economic Forum's Global Cybersecurity Outlook 2024 reports a 30% decrease in organizations maintaining minimum viable cyber resilience.

Fortinet (NASDAQ: FTNT) announces the general availability of FortiDLP, a next-generation data loss prevention and insider risk management solution. The AI-enhanced platform offers comprehensive data protection across cloud deployments, applications, and devices. Key features include Shadow AI data protection, day-one data visibility, insider risk protection, and SaaS application security. FortiDLP enables organizations to anticipate risks, streamline incident response, and protect sensitive information from both internal and external threats through AI-powered detection and user education.

Fortinet's 2024 Security Awareness and Training Global Research Report reveals critical cybersecurity challenges facing organizations. Nearly 70% of organizations report their employees lack fundamental security awareness, up from 56% in 2023. The report highlights that over 60% of respondents expect more employees to fall victim to AI-augmented attacks.

Key findings show that 80% of organizations are more open to implementing security awareness training due to AI threats. Three-quarters of leaders plan security awareness campaigns, with 34% delivering monthly and 47% quarterly content. More than 80% of organizations faced attacks targeting individuals last year, including malware, phishing, and password attacks. Notably, 89% of organizations reported improvements after implementing security awareness training programs.