Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. The company provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. The company was founded in 2000 and is headquartered in Sunnyvale, California.
IPO Year: 2009
Exchange: NASDAQ
Website: fortinet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/8/2025 | $122.00 → $110.00 | Market Perform | BMO Capital Markets |
| 5/6/2025 | $95.00 | Hold → Sell | DZ Bank |
| 4/23/2025 | $103.00 | Neutral | Roth Capital |
| 4/1/2025 | $108.00 | Equal-Weight | Stephens |
| 3/18/2025 | Overweight | Morgan Stanley | |
| 2/26/2025 | Buy | Deutsche Bank | |
| 2/3/2025 | $105.00 → $112.00 | Outperform → Neutral | Robert W. Baird |
| 1/14/2025 | Outperform → Mkt Perform | Raymond James | |
| 1/6/2025 | $100.00 → $120.00 | Neutral → Overweight | Piper Sandler |
| 12/19/2024 | $115.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
BMO Capital Markets reiterated coverage of Fortinet with a rating of Market Perform and set a new price target of $110.00 from $122.00 previously
DZ Bank downgraded Fortinet from Hold to Sell and set a new price target of $95.00
Roth Capital initiated coverage of Fortinet with a rating of Neutral and set a new price target of $103.00
Stephens initiated coverage of Fortinet with a rating of Equal-Weight and set a new price target of $108.00
Morgan Stanley resumed coverage of Fortinet with a rating of Overweight
Deutsche Bank resumed coverage of Fortinet with a rating of Buy
Robert W. Baird downgraded Fortinet from Outperform to Neutral and set a new price target of $112.00 from $105.00 previously
Raymond James downgraded Fortinet from Outperform to Mkt Perform
Piper Sandler upgraded Fortinet from Neutral to Overweight and set a new price target of $120.00 from $100.00 previously
KeyBanc Capital Markets upgraded Fortinet from Sector Weight to Overweight and set a new price target of $115.00
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Highlights Total revenue of $1.54 billion, up 14% year over yearProduct revenue of $459 million, up 12% year over yearBillings of $1.60 billion, up 14% year over year1Unified SASE ARR2 up 26% and Security Operations ARR2 up 30%, year over yearRecord first quarter GAAP operating margin of 29%Record first quarter Non-GAAP operating margin of 34%1Record Cash flow from operations of $863 millionRecord Free cash flow of $783 million1 SUNNYVALE, Calif., May 07, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the first quarter ended March 31, 2025. "We are pleased to report
SUNNYVALE, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its first quarter 2025 financial results on Wednesday, May 7, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call replay will be accessible fr
Fourth Quarter 2024 Highlights Total revenue of $1.66 billion, up 17% year over yearProduct revenue of $574 million, up 18% year over yearBillings of $2.00 billion, up 7% year over year1Record GAAP operating margin of 35% Record Non-GAAP operating margin of 39%1Unified SASE ARR2 up 28% and Security Operations ARR2 up 32%, year over yearRanked #7 on the Forbes Most Trusted Companies in America 2025 list, the only cybersecurity company in the top 50 Full Year 2024 Highlights Total revenue of $5.96 billion, up 12% year over yearService revenue of $4.05 billion, up 20% year over yearRecord GAAP operating margin of 30%Record Non-GAAP operating margin of 35%1Remaining performance obligati
SUNNYVALE, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its fourth quarter and full year 2024 financial results on Thursday, February 6, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call
Highlights Total revenue up 13% year over year; service revenue up 19% year over yearBillings1 and product revenue returns to growthStrong billings growth in Unified SASE and Security OperationsRecord GAAP operating margin of 31.2%Record Non-GAAP operating margin of 36.1%1Cash flow from operations of $608 million; Free cash flow of $572 million1Raising 2024 revenue and non-GAAP operating margin guidanceShare repurchase authorization increased by $1 billion; remaining authorization of $2 billion SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results fo
SUNNYVALE, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- News SummaryFortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its third quarter 2024 financial results on Thursday, November 7, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call replay will be
Record quarterly GAAP and Non-GAAP operating margins Raises 2024 revenue and Non-GAAP operating margin guidanceContinuing to invest in the fast-growing Unified SASE and Security Operations markets Second Quarter 2024 Highlights Total revenue of $1.43 billion, up 11% year over yearService revenue of $982 million, up 20% year over yearRecord GAAP operating margin of 30.5%Record Non-GAAP operating margin of 35.1%1Cash flow from operations of $342 million SUNNYVALE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the second quarter ended June 30, 2024.
SUNNYVALE, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) -- News SummaryFortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that it has completed the acquisition of Lacework, a cloud security and cloud-native application protection platform (CNAPP) trailblazer, effective August 1, 2024. "The addition of Lacework aligns with Fortinet's commitment to protect our customers with innovative solutions that provide consistent security across on-premises and cloud environments," said Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet. "Integrating Lacework's organically developed cloud-native platform with the Forti
SUNNYVALE, Calif., July 02, 2024 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its second quarter 2024 financial results on Tuesday, August 6, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call replay will be a
First Quarter 2024 Highlights Total revenue of $1.35 billion, up 7% year over yearService revenue of $944 million, up 24% year over yearGAAP operating margin of 23.7%Non-GAAP operating margin of 28.5%1Cash flow from operations of $830 millionFree cash flow of $609 million1 SUNNYVALE, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the first quarter ended March 31, 2024. "We are diligently executing on our strategy announced six months ago to leverage our scale, go-to-market capabilities, customer-first focus, and engineering expertise to capitalize on
SUNNYVALE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the addition of Janet Napolitano to the company's board of directors, adding further national security and public policy expertise to the board. Appointing Janet to the board of directors builds on Fortinet's ongoing commitment to advancing cybersecurity for society at large through its product development principles and strategic partnerships. Janet will help advance Fortinet's public and private sector initiatives, advise on the company's ongoing efforts related to CISA's Secure by Design Pledge, and strengthen
SUNNYVALE, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that KDDI leveraged Fortinet Unified SASE as a new managed secure access service edge (SASE) service. The service from KDDI utilizes Fortinet's industry-leading Unified SASE solution as the core product for its Global SASE Platform Service by Fortinet offering. The Global SASE Platform Service by Fortinet unifies and centrally manages different security policies and standards, simplifying complex networks that require highly secure hybrid work environments from any location globally. In addition, by
SUNNYVALE, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- RSA Conference 2024 Jim Richberg, Head of Cyber Policy and Global Field CISO at Fortinet "At Fortinet, we have a long-standing commitment to being a role model in ethical and responsible product development and vulnerability disclosure. As part of this dedication, Fortinet has proactively aligned to international and industry best practices and upholds the highest security standards in every aspect of our business. We applaud CISA's continued call to the industry to follow suit and appreciate CISA's willingness to collaborate with Fortinet on the development of these important goals. We strongly encourage others in the technology communi
Highlights Total revenue of $1.54 billion, up 14% year over yearProduct revenue of $459 million, up 12% year over yearBillings of $1.60 billion, up 14% year over year1Unified SASE ARR2 up 26% and Security Operations ARR2 up 30%, year over yearRecord first quarter GAAP operating margin of 29%Record first quarter Non-GAAP operating margin of 34%1Record Cash flow from operations of $863 millionRecord Free cash flow of $783 million1 SUNNYVALE, Calif., May 07, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the first quarter ended March 31, 2025. "We are pleased to report
SUNNYVALE, Calif., May 07, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the FortiGate 700G series, a next-generation firewall (NGFW) purpose-built for the modern campus. Powered by Fortinet's proprietary Network Processor 7 (NP7), Security Processor 5 (SP5) ASIC, and FortiOS, Fortinet's unified operating system, the FortiGate 700G series delivers up to 7x higher firewall throughput, 4x better threat protection, and 7x lower power consumption than competitor offerings. With support for advanced networking, FortiGuard AI-Powered Security Services, and new FortiOS enhancements, including
Vodafone Business expands its converged networking and cybersecurity services powered by the Fortinet Unified SASE solution to new global markets.Vodafone Business has been also designated "Fortinet Global Partner" due to its expertise in designing, deploying, and managing secure connected enterprise solutions globally. LONDON and SUNNYVALE, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- News Summary Vodafone Business and Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced an expanded global partnership, extending the reach of their converged networking and cybersecurity services to additional countries across E
FortiGuard Labs 2025 Global Threat Landscape Report highlights a boom in Cybercrime-as-a-Service on the darknet, fueling a lucrative market for credentials, exploits, and access SUNNYVALE, Calif., April 28, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the release of the 2025 Global Threat Landscape Report from FortiGuard Labs. The latest annual report is a snapshot of the active threat landscape and trends from 2024, including a comprehensive analysis across all tactics used in cyberattacks, as outlined in the MITRE ATT&CK framework. The data reveals that threat
SUNNYVALE, Calif., April 23, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet®, the global cybersecurity leader driving the convergence of networking and security, today announced that FortiGuard AI-Powered Security Services and FortiCare Services have received GovRAMP, previously known as StateRAMP, authorization at a moderate impact level from the Government Risk and Authorization Management Program (GovRAMP®). "Fortinet's GovRAMP authorization underscores our commitment to delivering trusted security solutions for state and local government agencies, educational institutions, and other public sector partners," said John Whittle, Chief Operating Officer at Fortinet. "With Fortinet, s
SUNNYVALE, Calif., April 08, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced it has won the 2025 Google Cloud Infrastructure Modernization Partner of the Year Award for Networking. As a five-time Google Cloud Technology Partner of the Year Award winner, Fortinet continues to be recognized by Google for creating industry-leading solutions and strong customer experiences with Google Cloud. "We're honored to once again be recognized as a Google Cloud Technology Partner of the Year. This award highlights the strength of our application and infrastructure security solutions and reinforces our
SUNNYVALE, Calif. and BERLIN, April 08, 2025 (GLOBE NEWSWIRE) -- Accelerate 2025 News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced significant FortiAI innovations embedded across the Fortinet Security Fabric platform to enhance protection against new and emerging threats, simplify and automate security and network operations, and secure employee use of AI-enabled services. "Fortinet's AI advantage stems from the breadth and depth of our AI ecosystem—shaped by over a decade of AI innovation and reinforced by more patents than any other cybersecurity vendor," said Michael Xie, Founder, President
SUNNYVALE, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its first quarter 2025 financial results on Wednesday, May 7, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call replay will be accessible fr
SUNNYVALE, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced it has advanced its OT Security Platform to further support the protection of critical infrastructure and industrial sites from evolving cyberthreats. New enhancements go beyond traditional OT visibility solutions and include deeper OT-specific threat visibility with the FortiGuard OT Security Service, expanded ruggedized solutions for segmentation and 5G in harsh environments, and an upgraded OT SecOps portfolio for automated threat response and regulatory compliance tracking. "Fortinet has been b
CHARLOTTE, N.C., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Discovery Education, the creator of essential K-12 solutions used in classrooms around the world, today announced the launch of a new Digital Citizenship Initiative. The Digital Citizenship Initiative is a dynamic partnership that provides educators and students with free tools, resources, and the skills needed to thrive in today's digital world. The Digital Citizenship Initiative grew out of needs summarized in a dedicated white paper entitled Risks and Resilience: Why Digital Citizenship Matters in K12 Education. This study illuminated many of the issues facing today's students, including cyberbullying, online privacy, and digital footp
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