Exam Code: FCNSA Practice test 2023 by Killexams.com team
Fortinet Certified Network Security Administrator
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Killexams : Fortinet Administrator approach - BingNews https://killexams.com/pass4sure/exam-detail/FCNSA Search results Killexams : Fortinet Administrator approach - BingNews https://killexams.com/pass4sure/exam-detail/FCNSA https://killexams.com/exam_list/Fortinet Killexams : Why Fortinet Stock Topped the Market on Tuesday No result found, try new keyword!Borges said she is impressed with Fortinet's approach to its business, which centers on the simultaneous need for wide networking capabilities and security. She believes that the up-and-coming ... Tue, 14 Feb 2023 09:57:00 -0600 text/html https://www.nasdaq.com/articles/why-fortinet-stock-topped-the-market-on-tuesday Killexams : Why Fortinet Stock Is Soaring After Hours

Fortinet Inc FTNT shares are trading higher in Tuesday's after-hours session after the company reported mixed fourth-quarter results and issued strong guidance

What Happened: Fortinet said fourth-quarter revenue increased 33% year-over-year to $1.28 billion, which missed consensus estimates of $1.29 billion. The cybersecurity company reported fourth-quarter adjusted earnings of 44 cents per share, which beat average analyst estimates of 39 cents per share.

Fortinet said product revenue was up 43% year-over-year, while service revenue grew 27%. Billings jumped 32% compared to the prior year's quarter.

Free cash flow reached $497.2 million during the quarter, while cash flow from operations totaled $528.1 million. 

"Our market share gains are being driven by Fortinet's integrated and single platform approach to cybersecurity combined with FortiASIC technology, which lowers the management costs and the total cost of ownership for organizations," said Ken Xie, founder, chairman and CEO of Fortinet.

"Given our cost-for-performance advantage, the convergence of security and networking, and the consolidation of products and vendors, we expect to continue our solid growth trajectory."

Fortinet expects first-quarter revenue to be between $1.18 billion and $1.22 billion versus estimates of $1.18 billion. First-quarter adjusted earnings are expected to be in a range of 27 cents to 29 cents per share versus estimates of 27 cents per share.

On a full-year basis, Fortinet sees 2023 revenue between $5.37 billion and $5.43 billion versus estimates of $5.36 billion. The company sees full-year adjusted earnings in a range of $1.39 to $1.41 per share versus estimates of $1.39 per share. 

See Also: After-Hours Alert: Why Chipotle Stock Is Getting Cooked

FTNT Price Action: Fortinet has a 52-week high of $71.52 and a 52-week low of $42.61.

The stock was up 17% after hours at $62.90 at the time of publication, according to Benzinga Pro.

Photo: Kris from Pixabay.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tue, 07 Feb 2023 10:48:00 -0600 en text/html https://www.benzinga.com/news/earnings/23/02/30781119/why-fortinet-stock-is-soaring-after-hours
Killexams : Fortinet Q4 Earnings: Strong Product Growth
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Investment Thesis

Fortinet, Inc. (NASDAQ:FTNT) is a U.S.-based cybersecurity company founded by Xie Jing back in 2000. The company has been one of the best compounders in the past decade, with the stock up over 1,000% during the period. The share price

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Wed, 08 Feb 2023 08:41:00 -0600 en text/html https://seekingalpha.com/article/4576481-fortinet-q4-earnings-strong-product-growth
Killexams : Is It Too Late to Buy Fortinet Stock?

Fortinet's (FTNT -1.22%) stock jumped nearly 11% on Feb. 8 after the company posted its fourth-quarter earnings report. The cybersecurity company's revenue rose 33% year over year to $1.28 billion but narrowly missed analysts' estimates by $20 million. However, its adjusted earnings rose 76% to $0.44 per share and topped the consensus forecast by a nickel.

Fortinet also posted strong guidance for 2023. It expects its revenue to rise 24% to 28% year over year in the first quarter and grow 21% to 23% for the full year. Both estimates easily surpassed Wall Street's expectations.

That stable outlook suggests that Fortinet is still well insulated from the macro headwinds, but is it too late to buy its stock after its post-earnings pop? Let's take a fresh look at Fortinet's business and valuations to decide.

A digital padlock on a circuit board.

Image source: Getty Images.

An early mover in next-gen firewalls

Back in 2002, Fortinet launched FortiGate, a next-gen firewall that upgraded traditional firewalls with network device filtering tools. It established an early-mover's advantage in that market and now serves about 615,000 customers globally, including most of the Fortune 500. FortiGate subsequently became the foundation of Fortinet's Security Fabric, which provides end-to-end protection tools for on-premise, cloud-based, and Internet of Things devices through a blend of on-site appliances, software, and cloud-based services.

That expansion boosted Fortinet's annual revenue from $1.49 billion in 2017 to $4.42 billion in 2022, which represented a compound annual growth rate (CAGR) of 24%, as its annual adjusted operating margin expanded from 15% to 27%. Its stock has also rallied more than 550% over the past five years as the ETFMG Prime Cyber Security ETF, which holds a basket of top cybersecurity stocks, rose less than 50%.

Unlike many of its other cybersecurity peers, Fortinet is firmly profitable by both generally accepted accounting principles (GAAP) and non-GAAP (adjusted) metrics. On a non-GAAP basis, its net income increased at a CAGR of 39% from $185 million in 2017 to $962 million in 2022. 

But can it maintain those growth rates?

Fortinet believes it can generate $10 billion in billings in 2025, which implies a CAGR of 21% from its $5.59 billion in billings in 2022. That forecast implies its top-line growth will barely slow down over the next three years.

During its fourth-quarter conference call, CFO Keith Jensen attributed the company's stable outlook to the "convergence and consolidation" of "network firewalls, Secure SD-WAN, 5G and OT security" into its "single operating system." Jensen also noted that Fortinet's development of its own ASIC chips, which are customized for its own hardware and operating system, gave it an edge against other cybersecurity appliance companies that used third-party chips.

Unlike many other tech companies, Fortinet didn't fret over macroeconomic headwinds at all during its latest conference call. Instead, Jensen said that even though Fortinet faced a "challenging global supply chain environment" during the year, its product revenue still rose 42% and represented its "highest annual product revenue growth rate in over 10 years."

Fortinet expects its adjusted operating margin to dip slightly to 25% to 26% in 2023 as it ramps up its investments in its cloud services, data centers, and facilities, but it still expects its adjusted earnings per share to rise 17% to 18%.

Fortinet is also swimming in cash. Its free cash flow rose 21% to $1.45 billion in 2022, and it spent more than 100% of that total ($1.99 billion) on buybacks. It repurchased its shares at an average price of $55.37 -- a discount of about 9% to its stock price as of this writing -- and reduced its outstanding shares by 4% throughout the year.

So is it too late to buy Fortinet's stock?

Fortinet's stock isn't cheap at 51 times forward earnings, but I believe its rock-solid growth rates justify that higher valuation. It's also fairly valued relative to its industry peers. For example, Palo Alto Networks -- which provides similar services and is growing at a comparable rate -- trades at 49 times forward earnings.

I believe Fortinet's glowing track record and crystal-clear road map make it a great long-term play on the growing cybersecurity sector. If it generates $10 billion in billings by 2025 -- which certainly seems achievable at this rate -- its stock could easily double in less than three years. Therefore, it's certainly not too late to add this high-quality stock to your portfolio.

Leo Sun has positions in Palo Alto Networks. The Motley Fool has positions in and recommends Fortinet and Palo Alto Networks. The Motley Fool has a disclosure policy.

Thu, 09 Feb 2023 02:52:00 -0600 Leo Sun en text/html https://www.fool.com/investing/2023/02/09/is-it-too-late-to-buy-fortinet-stock/
Killexams : Fortinet expands services, training to prevent cyberthreats Fortinet’s multifaceted approach accelerates its commitment to eliminate the cybersecurity skills gap. CONTRIBUTED PHOTO © Provided by The Manila Times Fortinet’s multifaceted approach accelerates its commitment to eliminate the cybersecurity skills gap. CONTRIBUTED PHOTO

FORTINET — a global leader in broad, integrated and automated cybersecurity solutions — announced new security operations center (SOC) augmentation services, designed to help strengthen an organization's cyberresiliency and support short-staffed teams, strained by the talent shortage. In addition, as part of Fortinet's leadership efforts to help close the cyberskills gap, the Fortinet Training Institute has added initiatives across its programs to further increase access to its industry-recognized training and certifications.

The prevailing talent shortage remained one of the top challenges facing SOC teams globally. Fortinet's 2022 Cybersecurity Skills Gap report found that 50 percent of global leaders cited security operations as one of the most challenging roles to fill, and 42 percent were still in need of security operations analysts. Additionally, the same Fortinet survey found that worldwide, 80 percent of organizations suffered one or more breaches due to a lack of cybersecurity skills and awareness.

A lack of resources and personnel, combined with the sheer volume of security alerts SOC teams receive per day, often resulted in missed detections and slower responses that increased exposure to cyberrisk. SOC teams required an immediate solution to mitigate these challenges through investment in automated and integrated SOC, and cybersecurity technologies and experienced professionals to better protect against threats.

New and enhanced SOC augmentation services provided immediate support for short-staffed security operations teams.

Committed to helping organizations overcome these obstacles, Fortinet's new and enhanced services helped SOC teams to reduce their organizations' cyberrisk while freeing up their time to focus on higher-priority projects.

Tue, 14 Feb 2023 02:37:54 -0600 en-PH text/html https://www.msn.com/en-ph/news/other/fortinet-expands-services-training-to-prevent-cyberthreats/ar-AA17tL4e
Killexams : Fortinet patches two critical bugs in its FortiNAC and FortiWeb products

Fortinet on Thursday patched two critical bugs in its FortiNAC and FortiWeb products that if exploited could allow an unauthenticated attacker to execute unauthorized code or commands via a specifically crafted HTTP request.

While both were rated critical, the FortiNAC bug — CVE-2022-39952 — was rated at 9.8 and affected versions 9.4.0; 9.2.0 through 9.2.5; 9.1.0 through 9.1.7; 8.8.0 through 8.8.11; 8.7.0 through 8.7.6; 8.6.0 through 8.6.5; 8.5.0 through 8.5.4; and 8.3.7.

The FortiWeb bug — CVE-2021-42756 — was reported as a multiple stack-based buffer overflow vulnerabilty in the proxy daemon of FortiWeb 5.x all versions; 6.0.7 and below; 6.1.2 and below; 6.2.6 and below; 6.3.16 and below; and 6.4.

Fortinet encourages its users to do the upgrades as specified in its advisories for the FortiNAC and FortiWeb products.

Mike Parkin, senior technical engineer at Vulcan Cyber, said  while there aren't a lot of details available on either of these issues beyond them being remote exploits, Fortinet did release updated versions that address the vulnerabilities. 

“As always, especially with a security product, deploying using industry best practices and keeping up to date on patches are just the starting points,” said Parkin.

When asked about how the FortiWeb bug dates back to 2021, Parkin said he wish he knew the reason for the long time lag.

“We've all seen these long delays between a CVE reservation and an genuine publication,” said Parkin. “It would be nice if there was more clarity about the delays when they happen.”

A Fortinet spokesperson said the FortiWeb bug was found internally and published in its February advisory as part of its product security incident response policies.

Fri, 17 Feb 2023 08:06:00 -0600 en text/html https://www.scmagazine.com/news/vulnerability-management/fortinet-patches-two-critical-bugs-in-its-fortinac-and-fortiweb-products
Killexams : Fortinet Stock Is Rising Today: What's Going On? © Provided by Benzinga

Fortinet Inc (NASDAQ: FTNT) shares are rising Wednesday morning after the company reported mixed fourth-quarter results and issued strong guidance. Several analysts also raised price targets on the stock following the company's quarterly results.

Q4 Revenue: $1.28 billion missed estimates of $1.29 billion Q4 EPS: $0.44 beat estimates of $0.39

Fortinet said product revenue was up 43% year-over-year, while service revenue grew 27%. Billings jumped 32% compared to the prior year's quarter.

"Our market share gains are being driven by Fortinet's integrated and single platform approach to cybersecurity combined with FortiASIC technology, which lowers the management costs and the total cost of ownership for organizations," said Ken Xie, founder, chairman and CEO of Fortinet.

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Must Read: EXCLUSIVE: Meet The Company Offering Mardi Gras NFTs For Bathroom, Bar Access And Helping Grow Web3 In New Orleans

Outlook: Fortinet expects first-quarter revenue to be between $1.18 billion and $1.22 billion versus estimates of $1.18 billion. First-quarter adjusted earnings are expected to be in a range of 27 cents to 29 cents per share versus estimates of 27 cents per share.

Fortinet sees full-year 2023 revenue between $5.37 billion and $5.43 billion versus estimates of $5.36 billion. The company sees full-year adjusted earnings in a range of $1.39 to $1.41 per share versus estimates of $1.39 per share. 

Analyst Assessment: 

Piper Sandler analyst Rob Owens maintained Fortinet with a Neutral and raised the price target from $57 to $64. Raymond James analyst Adam Tindle maintained Fortinet with an Outperform and raised the price target from $60 to $70. JPMorgan analyst Brian Essex maintained Fortinet with an Overweight and raised the price target from $69 to $70. Wells Fargo analyst Andrew Nowinski maintained Fortinet with an Overweight and raised the price target from $62 to $72. Wedbush analyst Daniel Ives maintained Fortinet with an Outperform and raised the price target from $64 to $70.

One firm also downgraded the stock after shares charged higher on earnings: Keybanc analyst Michael Turits downgraded Fortinet from Overweight to Sector Weight.

FTNT Price Action: Fortinet has a 52-week high of $71.52 and a 52-week low of $42.61.

Fortinet shares are up 12.1% at $60.26 Wednesday morning, according to Benzinga Pro.

Photo: vicky gharat from Pixabay.

Latest Ratings for FTNT

Date Firm Action From To
Feb 2022 Wedbush Maintains Outperform
Feb 2022 Wells Fargo Maintains Overweight
Feb 2022 Raymond James Maintains Outperform

View More Analyst Ratings for FTNT

View the Latest Analyst Ratings

Tue, 07 Feb 2023 23:46:44 -0600 en-US text/html https://www.msn.com/en-us/money/topstocks/fortinet-stock-is-rising-today-what-s-going-on/ar-AA17fyPl
Killexams : Fortinet helps launch the Cybercrime Atlas Initiative
  • The Cybercrime Atlas initiative brings together global leaders to fight cyberthreats and map the cybercrime landscape, covering criminal operations, structures and networks

SUNNYVALE, Calif. – Derek Manky, Chief Security Strategist and VP of Global Threat Intelligence at FortiGuard Labs: “Disrupting global cybercriminal organizations requires a global effort with strong, trusted relationships and collaboration across public and private organizations and industries. It is part of Fortinet’s mission to secure people, devices, and data everywhere, and Fortinet is proud to be one of the founding members of the World Economic Forum Centre for Cybersecurity and an active contributor as part of its Partnership against Cybercrime (PAC). The Cybercrime Atlas initiative is about driving real impact and is a coordinated effort to create a chain of disruption in the world of cybercrime. We are excited to continue our work with private and public sector leaders to help make our digital world a safer place.”

Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the launch of the Cybercrime Atlas, a joint initiative launched this month in Davos at the organization’s Annual Meeting by the World Economic Forum (WEF) with the support of Banco Santander, Fortinet, Microsoft, and PayPal. The Cybercrime Atlas – currently hosted by the Forum – will aid industry, law enforcement, and government agencies by providing a first-of-its-kind visibility to disrupt cybercriminals across their ecosystem and infrastructure to track and help take down cybercriminals and their infrastructure around the world. 

Global Leaders Collaborating to Build a Chain of Disruption

Cybercrime impacts everyone from individuals to global corporations and critical infrastructures and governments. It causes immense, though not always visible, damage to economies and societies. The Cybercrime Atlas was first conceptualized by the Forum’s PAC community, which includes over 40 private and public sector members.

The Cybercrime Atlas is a collaborative effort to build an action-orientated, global knowledge-base​ of the cybercriminal landscape to enable mitigation and disruption of cybercrime. Building on the expertise of the Forum’s PAC, the Cybercrime Atlas initiative will provide a platform for leading cybercrime investigators, national and international law enforcement agencies, and global businesses to share knowledge, generate policy recommendations and identify opportunities for coordinated action to fight cyberthreats.

The Cybercrime Atlas aims to build a comprehensive picture of the cybercrime landscape that covers criminal operations, shared infrastructure, and networks. The links between the information gathered about threat actors will help the security industry more effectively disrupt the cybercriminal ecosystem, more efficiently allocate resources in the fight against them, and make their unlawful efforts more cost prohibitive.

Since 2H 2021, the Cybercrime Atlas has benefited from a year of analysis into 13 criminal groups by specialized analysts and cybercrime investigators, using only publicly available information. The accumulated knowledge from the Cybercrime Atlas efforts will ultimately help to identify and disrupt the cybercrime ecosystem. The analysis will shed light on cybercriminal artifacts to aid industry, law enforcement, and government agencies to create a chain of disruption. The approach and initial findings of the group have been welcomed by law enforcement agencies. The uncovering of these non-traditional artificats will help aid in the capture and successfull prosecution of cybercrime gang members.

Fortinet’s Continued Commitment to Disrupting Global Cybercrime

Fortinet’s FortiGuard Labs’ leadership in the threat intelligence community over the last decade has helped take the fight to adversaries and Improve protections for customers, partners, and governments around the world. By sharing threat intelligence and working with other threat intelligence organizations, it helps Improve protections for customers and enhances the effectiveness of the entire cybersecurity industry.

FortiGuard Labs is committed to partnership and cooperation with global law enforcement, government organizations, and industry organizations. In addition to the work with WEF Centre for Cybersecurity and being a contributor to PAC, Fortinet also invests meaningful resources in further global partnerships, including the MITRE Engenuity Center for Threat Informed Defense (CTID). Fortinet is also a long-standing member of the NATO Industry Cyber Partnership (NICP), are active contributors and members of INTERPOL Gateway, is a founding member of the Cyber Threat Alliance (CTA), and more.

Supporting Quotes

“Given the global nature of cyberthreats, increasingly public-private collaboration is the best way to combat cybercrime. Organizations must look beyond their perimeter and combine efforts and resources with businesses, law enforcement and government.”

-- Dirk Marzluf, Group Chief Operating and Technology Officer, Banco Santander

“This initiative underlines the need for an enhanced multi-sector approach to combat the increasing cybercrime threat. A global solution must include private sector insights to enable law enforcement to prevent, detect, investigate and disrupt cybercrime.”

-- Jürgen Stock, Secretary-General, International Criminal Police Organization (INTERPOL)

“Cybercriminals work in the shadows and exploit vulnerabilities to inflict devastating attacks. The Cybercrime Atlas provides an important forum that brings the public and private sectors together to share actionable information and leverage cross-sector data, capabilities and expertise, crucial to disrupting cybercrime quickly, and at scale.”

-- Brad Smith, Vice-Chair and President, Microsoft

“The Cybercrime Atlas is a collaborative research initiative that gathers and collates information about the cybercriminal ecosystem and major threat actors operating today. The insights generated will help promote opportunities for greater cooperation between the private sector and law enforcement to address cybercrime.”

-- Jeremy Jurgens, Managing Director, World Economic Forum

-Ends-

About Fortinet

Fortinet (NASDAQ: FTNT) makes possible a digital world that we can always trust through its mission to protect people, devices, and data everywhere. This is why the world’s largest enterprises, service providers, and government organizations choose Fortinet to securely accelerate their digital journey. The Fortinet Security Fabric platform delivers broad, integrated, and automated protections across the entire digital attack surface, securing critical devices, data, applications, and connections from the data center to the cloud to the home office. Ranking #1 in the most security appliances shipped worldwide, more than 615,000 customers trust Fortinet to protect their businesses. And the Fortinet NSE Training Institute, an initiative of Fortinet’s Training Advancement Agenda (TAA), provides one of the largest and broadest training programs in the industry to make cyber training and new career opportunities available to everyone. Learn more at https://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.

About FortiGuard Labs

FortiGuard Labs is the threat intelligence and research organization at Fortinet. Its mission is to provide Fortinet customers with the industry’s best threat intelligence designed to protect them from malicious activity and sophisticated cyberattacks. It is composed of some of the industry’s most knowledgeable threat hunters, researchers, analysts, engineers, and data scientists in the industry, working in dedicated threat research labs all around the world. FortiGuard Labs continuously monitors the worldwide attack surface using millions of network sensors and hundreds of intelligence-sharing partners. It analyzes and processes this information using AI and other innovative technology to mine that data for new threats. These efforts result in timely, actionable threat intelligence in the form of Fortinet security product updates, proactive threat research to help our customers better understand the threats and actors they face, and threat intelligence to help our customers better understand and defend their threat landscape. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

FTNT-O

Copyright © 2023 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiCore, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAP, FortiAppEngine, FortiAppMonitor, FortiAuthenticator, FortiBalancer, FortiBIOS, FortiBridge, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCenter, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCNP, FortiDB, FortiDDoS, FortiDeceptor, FortiDirector, FortiDNS, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLocator, FortiLog, FortiMeter, FortiMoM, FortiMonitor, FortiNAC, FortiPartner, FortiPenTest, FortiPhish, FortiPortal, FortiPresence , FortiProtect, FortiProxy, FortiRecorder, FortiReporter, FortiSASE, FortiScan, FortiSDNConnector, FortiSIEM, FortiSDWAN, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiVoIP, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLCOS and FortiWLM.

 Other trademarks belong to their respective owners. Fortinet has not independently Checked statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions, such as statements regarding technology releases among others. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.

Media Contact:
Amber Dale
amberdale@chatterbox-pre.com

Wed, 15 Feb 2023 17:53:00 -0600 en text/html https://www.zawya.com/en/press-release/companies-news/fortinet-helps-launch-the-cybercrime-atlas-initiative-yt390yni
Killexams : Fortinet Stock Is Rising Today: What's Going On?

Fortinet Inc (NASDAQ:FTNT) shares are rising Wednesday morning after the company reported mixed fourth-quarter results and issued strong guidance. Several analysts also raised price targets on the stock following the company's quarterly results.

  • Q4 Revenue: $1.28 billion missed estimates of $1.29 billion
  • Q4 EPS: $0.44 beat estimates of $0.39

Fortinet said product revenue was up 43% year-over-year, while service revenue grew 27%. Billings jumped 32% compared to the prior year's quarter.

"Our market share gains are being driven by Fortinet's integrated and single platform approach to cybersecurity combined with FortiASIC technology, which lowers the management costs and the total cost of ownership for organizations," said Ken Xie, founder, chairman and CEO of Fortinet.

Outlook: Fortinet expects first-quarter revenue to be between $1.18 billion and $1.22 billion versus estimates of $1.18 billion. First-quarter adjusted earnings are expected to be in a range of 27 cents to 29 cents per share versus estimates of 27 cents per share.

Fortinet sees full-year 2023 revenue between $5.37 billion and $5.43 billion versus estimates of $5.36 billion. The company sees full-year adjusted earnings in a range of $1.39 to $1.41 per share versus estimates of $1.39 per share. 

Analyst Assessment: 

  • Piper Sandler analyst Rob Owens maintained Fortinet with a Neutral and raised the price target from $57 to $64.
  • Raymond James analyst Adam Tindle maintained Fortinet with an Outperform and raised the price target from $60 to $70.
  • JPMorgan analyst Brian Essex maintained Fortinet with an Overweight and raised the price target from $69 to $70.
  • Wells Fargo analyst Andrew Nowinski maintained Fortinet with an Overweight and raised the price target from $62 to $72.
  • Wedbush analyst Daniel Ives maintained Fortinet with an Outperform and raised the price target from $64 to $70.

One firm also downgraded the stock after shares charged higher on earnings: Keybanc analyst Michael Turits downgraded Fortinet from Overweight to Sector Weight.

FTNT Price Action: Fortinet has a 52-week high of $71.52 and a 52-week low of $42.61.

Fortinet shares are up 12.1% at $60.26 Wednesday morning, according to Benzinga Pro.

Photo: vicky gharat from Pixabay.

Tue, 07 Feb 2023 23:58:00 -0600 en text/html https://markets.businessinsider.com/news/stocks/fortinet-stock-is-rising-today-what-s-going-on-1032078558
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