Fortinet Stock Price, News & Analysis

Fortinet (NASDAQ: FTNT) has scheduled its fourth quarter and full year 2024 financial results conference call for Thursday, February 6, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). The conference call will be available in listen-only mode through the company's investor relations website. Investors and analysts are advised to join 10 minutes before the start time. Following the call, the CEO and CFO's prepared remarks, supplemental slides, and call replay will be accessible through Fortinet's Quarterly Earnings page on their investor relations website.

Fortinet (NASDAQ: FTNT) announced that its Security Service Edge (SSE) offering, FortiSASE, received the highest possible 'AAA' rating from CyberRatings.org, the industry's only independent third-party cybersecurity testing nonprofit. The solution achieved exceptional scores across all test categories:

- Perfect score in Evasions (100%)
- Near-perfect in Exploits (99.02%)
- Near-perfect in Malware (99.5%)
- Full compatibility in TLS/SSL Functionality

FortiSASE demonstrated minimal impact on network performance while maintaining robust security features. The solution provides comprehensive cloud-delivered security services, including Firewall-as-a-Service, secure web gateway, and cloud access security broker. Fortinet was also named a Challenger in the 2024 Gartner Magic Quadrant for SSE.

Fortinet (NASDAQ: FTNT) has launched FortiAppSec Cloud, a new cloud-delivered platform integrating web application security and performance management tools. The platform combines advanced bot defense, global server load balancing, and web/API security into a unified solution. Key features include ML-powered bot protection, intelligent traffic routing, and threat analytics powered by FortiGuard Labs. The platform aims to address the challenges of securing modern web applications across multi-cloud environments, offering centralized management and reduced complexity. According to Fortinet's 2024 Cloud Security Report, 95% of cybersecurity professionals support a single-dashboard approach for streamlined security management.

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.