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NSE4_FGT-7.0 Fortinet NSE 40 - FortiOS 7.0 exam plan |

NSE4_FGT-7.0 exam plan - Fortinet NSE 40 - FortiOS 7.0 Updated: 2023

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Exam Code: NSE4_FGT-7.0 Fortinet NSE 40 - FortiOS 7.0 exam plan November 2023 by team

NSE4_FGT-7.0 Fortinet NSE 40 - FortiOS 7.0

Title: Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0)

Test Detail:
The Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0) exam is designed to validate the knowledge and skills required to effectively configure, manage, and troubleshoot Fortinet FortiOS 7.0 devices. This certification is intended for professionals who work with Fortinet FortiOS devices and are responsible for their administration and security.

Course Outline:
The Fortinet NSE 4 - FortiOS 7.0 course provides participants with a comprehensive understanding of Fortinet FortiOS 7.0 and its features. The following is a general outline of the key areas covered in the certification program:

1. Fortinet Security Fabric and FortiOS Overview:
- Introduction to the Fortinet Security Fabric architecture
- Overview of FortiOS features and functionalities
- Understanding Fortinet's security products and solutions

2. FortiOS Configuration and Administration:
- Fortinet FortiGate device installation and initial configuration
- Managing network interfaces and security policies
- Configuring VPNs, firewall, and NAT policies

3. Fortinet Security Services:
- Configuring antivirus, web filtering, and application control
- Implementing intrusion prevention system (IPS) and data leak prevention (DLP)
- Using Fortinet's advanced threat protection (ATP) features

4. Fortinet FortiGate High Availability (HA):
- Implementing high availability (HA) configurations for FortiGate devices
- Configuring and managing HA synchronization and failover
- Troubleshooting HA-related issues

5. Fortinet FortiAnalyzer and FortiManager:
- Introduction to Fortinet FortiAnalyzer for log analysis and reporting
- Using Fortinet FortiManager for centralized device management
- Integration and coordination between FortiAnalyzer, FortiManager, and FortiGate

Exam Objectives:
The Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0) exam assesses candidates' knowledge and skills in configuring, managing, and troubleshooting Fortinet FortiOS 7.0 devices. The exam objectives include, but are not limited to:

1. Understanding the Fortinet Security Fabric and FortiOS features.
2. Configuring and managing Fortinet FortiGate devices.
3. Implementing Fortinet security services and features.
4. Configuring and troubleshooting Fortinet FortiGate high availability (HA).
5. Using Fortinet FortiAnalyzer and FortiManager for log analysis and device management.

The Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0) certification program typically includes comprehensive training provided by Fortinet or authorized training partners. The syllabus provides a breakdown of the courses covered throughout the course, including specific learning objectives and milestones. The syllabus may include the following components:

- Introduction to Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0) exam overview and certification process
- Fortinet Security Fabric and FortiOS Overview
- FortiOS Configuration and Administration
- Fortinet Security Services
- Fortinet FortiGate High Availability (HA)
- Fortinet FortiAnalyzer and FortiManager
- exam Preparation and Practice Tests
- Final Fortinet NSE 4 - FortiOS 7.0 (NSE4_FGT-7.0) Certification Exam
Fortinet NSE 40 - FortiOS 7.0
Fortinet Fortinet exam plan

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FCESP Fortinet Certified Email Security Professional
FCNSA Fortinet Certified Network Security Administrator
FCNSP Fortinet Certified Network Security Professional
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FML-5.3.8 FML-5.3.8 FortiMail 5.3.8 Specialist
NSE8_811 Fortinet NSE 8 Written Exam
NSE4_FGT-7.0 Fortinet NSE 40 - FortiOS 7.0
NSE5_FMG-7.0 Fortinet NSE 5 - FortiManager 7.0
NSE5_FAZ-7.0 Fortinet NSE 5 - FortiAnalyzer 7.0
NSE7_EFW-7.0 Fortinet NSE 7 - Enterprise Firewall 7.0
NSE4_FGT-7.2 Fortinet NSE 4 - FortiOS 7.2
NSE8-812 NSE 8 - Network Security Expert 8 Written

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Fortinet NSE 40 - FortiOS 7.0
Question: 60
FortiGuard categories can be overridden and defined in different categories. To create a web rating override for home page, the override must be
configured using a specific syntax.
Which two syntaxes are correct to configure web rating override for the home page? (Choose two.)
Answer: A,C
When using FortiGuard category filtering to allow or block access to a website, one option is to make a web rating override and define the website in a different
category. Web ratings are only for host names "no URLs or wildcard characters are allowed".
Question: 61
Which two statements about SSL VPN between two FortiGate devices are true? (Choose two.)
A. The client FortiGate requires a client certificate signed by the CA on the server FortiGate.
B. The client FortiGate requires a manually added route to remote subnets.
C. The client FortiGate uses the SSL VPN tunnel interface type to connect SSL VP
E. Server FortiGate requires a CA certificate to verify the client FortiGate certificate.
Answer: C,D
Question: 62
Which two statements are true about the Security Fabric rating? (Choose two.)
A. The Security Fabric rating is a free service that comes bundled with all FortiGate devices.
B. Many of the security issues can be fixed immediately by clicking Apply where available.
C. The Security Fabric rating must be run on the root FortiGate device in the Security Fabric.
D. It provides executive summaries of the four largest areas of security focus.
Answer: B,C
Question: 63
Refer to the exhibits.
Exhibit A.
Exhibit B.
An administrator creates a new address object on the root FortiGate (Local-FortiGate) in the security fabric.
After synchronization, this object is not available on the downstream FortiGate (ISFW).
What must the administrator do to synchronize the address object?
A. Change the csf setting on Local-FortiGate (root) to set configuration-sync local.
B. Change the csf setting on ISFW (downstream) to set configuration-sync local.
C. Change the csf setting on Local-FortiGate (root) to set fabric-object-unification default.
D. Change the csf setting on ISFW (downstream) to set fabric-object-unification default.
Answer: A
Question: 64
Refer to the exhibit.
The global settings on a FortiGate device must be changed to align with company security policies.
What does the Administrator account need to access the FortiGate global settings?
A. Enable two-factor authentication
B. Change Administrator profile
C. Change password
D. Enable restrict access to trusted hosts.
Answer: B
Question: 65
Refer to the exhibit.
The exhibit displays the output of the CLI command: diagnose sys ha dump-by vcluster.
The override setting is enable for the FortiGate with SN FGVM010000064692.
Which two statements are true? (Choose two.)
A. FortiGate SN FGVM010000065036 HA uptime has been reset.
B. FortiGate devices are not in sync because one device is down.
C. FortiGate SN FGVM010000064692 is the primary because of higher HA uptime.
D. FortiGate SN FGVM010000064692 has the higher HA priority.
Answer: A,D
Question: 66
Refer to the exhibits.
Exhibit A.
Exhibit B.
The SSL VPN connection fails when a user attempts to connect to it.
What should the user do to successfully connect to SSL VPN?
A. Change the SSL VPN port on the client.
B. Change the Server IP address.
C. Change the idle-timeout.
D. Change the Server IP address.
Answer: A
Question: 67
Refer to the exhibits.
Exhibit A shows system performance output.
Exhibit B shows s FortiGate configured with the default configuration of high memory usage thresholds.
Based on the system performance output, which two statements are correct? (Choose two.)
A. FortiGate will start sending all files to FortiSandbox for inspection.
B. FortiGate has entered conserve mode.
C. Administrators cannot change the configuration.
D. Administrators can access FortiGate only through the condole port.
Answer: B,C
Question: 68
Which statement correctly describes NetAPI polling mode for the FSSO collector agent?
A. NetAPI polling can increase bandwidth usage in large networks.
B. The NetSessionEnum function is used to track user logouts.
C. The collector agent must search security event logs.
D. The collector agent uses a Windows API to query DCs for user logins.
Answer: B
Question: 69
Refer to the exhibit.
An administrator is running a sniffer command as shown in the exhibit.
Which three pieces of information are included in the sniffer output? (Choose three.)
A. Interface name
B. IP header
C. Application header
D. Packet payload
E. Ethernet header
Answer: A,B,D
Question: 70
An administrator does not want to report the logon events of service accounts to FortiGate.
What setting on the collector agent is required to achieve this?
A. Add user accounts to the Ignore User List.
B. Add the support of NTLM authentication.
C. Add user accounts to the FortiGate group filter.
D. Add user accounts to Active Directory (AD).
Answer: A
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Fortinet Fortinet exam plan - BingNews Search results Fortinet Fortinet exam plan - BingNews Fortinet: A Strong Bargain In The Growing Cybersecurity Sector
Fortinet office in Burnaby, BC, Canada

JHVEPhoto/iStock Editorial via Getty Images

Last month I recommended buying CrowdStrike (CRWD), highlighting how important cybersecurity had become in a world likely to be engulfed by AI (Artificial Intelligence) over the next decade. That, while AI would make businesses smarter and more

Thu, 19 Oct 2023 01:20:00 -0500 en text/html
Fortinet, rivals fall on concerns around cybersecurity spending No result found, try new keyword!Fortinet sank nearly 18% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. The current losses, if they hold ... Tue, 07 Nov 2023 15:56:35 -0600 en-us text/html Fortinet Is Building a New Cybersecurity Service With Google Cloud -- Time to Buy This Beaten-Down Stock?

Big cybersecurity pure play Fortinet (FTNT -1.25%) took a beating after its last earnings update in August 2023. After a hot growth streak during the pandemic-fueled cycle of data center upgrades (in support of a big pivot to cloud computing), Fortinet is slowing down. Investors took the opportunity to take some profit in the richly valued stock.

But Fortinet isn't idly sitting by and hoping that its unified network security hardware and software business will rebound. The company has been quietly making a push into a new realm of cybersecurity, and it just announced a new partnership with Alphabet's (GOOGL 1.72%) (GOOG 1.70%) Google Cloud to further its efforts. Is it time to buy the dip in Fortinet stock?

Fortinet's big move into software services

Fortinet has long had a secret weapon in the cybersecurity market. Not only does it design firewalls -- network security devices that monitor network traffic -- but it also designs proprietary chips that power them. It calls these Security Processing Units, or SPUs, a type of CPU customized for security purposes.

This has helped Fortinet crank out best-in-class security hardware, which customers purchase to secure physical locations (everything from a data center to an office building to a retail store), and which gets bundled together and operates with its software services (the recurring subscription-based revenue part of Fortinet).


First Half 2023

Increase (YOY)

Products (hardware and security infrastructure)

$473 million


Service (including recurring software subscription)

$820 million


Data source: Fortinet. YOY = year over year.

The stock fell hard this past summer because its high valuation was paired with a downgrade to management's near-term growth outlook. Expectations for full-year 2023 billings (the value of invoices sent to customers) were reduced by a couple hundred million dollars, to a range of $6.49 billion to $6.59 billion, as some customers have slowed spending and signing new contracts this year. The revised guidance implies Fortinet's overall revenue expansion will sink below the 20% mark.

But not all is lost, as Fortinet still expects to see double-digit percentage growth for the foreseeable future. The new Google Cloud deal illustrates the big opportunities that still lie ahead for the company.

Specifically, Fortinet is expanding its points-of-presence (POPs) for its secure access service edge (SASE, pronounced "sassy") security service, called Fortinet Universal SASE.

What exactly is SASE?

SASE is a type of security architecture first labeled as such by tech researcher Gartner in 2019. SASE refers to the unification of network hardware and security software-as-a-service (SaaS), combining multiple technologies into one converged security solution.

The idea behind SASE is to provide a holistic security service that a company can deploy to all of its operations -- such as an office building, a location remote from a main campus, employees working in the field or from home, a data center supporting a company's private cloud apps, and public cloud services.

Fortinet, along with many other cybersecurity leaders like Palo Alto Networks (PANW -5.42%), was quick to start building out SASE. Fortinet's legacy of best-in-class hardware is a great start in this arena. But to fully meet the definition of SASE, a security service must be cloud-based (located in a data center) and globally distributed. That's where Google Cloud comes in.

Is Fortinet's SASE the real deal, or is it just getting sassy with the competition?

To boost its competitiveness, Fortinet will use Google Cloud's dozens of POPs (small data centers located in strategic markets close to end users) to expand its Universal SASE. Presumably, this will rely heavily on Fortinet's own SPU-powered firewalls, and it could really up the game for Fortinet's SASE service.

This past summer, Gartner named Fortinet a challenger in this realm of next-gen cybersecurity, along with a couple of private start-ups. But big security pure-play Palo Alto Networks was named the only leader in this department. Fortinet together with Google Cloud could narrow that gap.

This deal looks like a win-win. Google Cloud lands a bigger customer in Fortinet for its cloud infrastructure, and Fortinet gets some global computing power for one of its marquee services. I own both Alphabet and Fortinet stock, and I plan to hold both for the long term.

But what of Fortinet's slowdown? Perhaps the buildout of its Universal SASE will help this security leader reignite conversations with existing and potential customers. After all, the cadence of data breaches and cybersecurity incidents isn't abating. Businesses around the world continue to get exposed as being deficient in data security. There's no shortage of demand for services like Fortinet Universal SASE.

But only time will tell if Fortinet's slowdown is a sign of a permanent tapering-off in growth, or just a lull due to weakening economic conditions in 2023. I believe Fortinet is still in good shape, and has a new growth lever to pull on with this upgraded Google Cloud partnership.

Nevertheless, bear in mind that Fortinet stock does still trade for a high premium. As of this writing, the share price values the company at 44 times trailing-12-month earnings, or 29 times trailing-12-month free cash flow. Suffice it to say the market still has high hopes for Fortinet. As with some other premium-priced stocks, consider using a dollar-cost average plan to build a position over time, if you think Fortinet still has years of growth prospects ahead.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Nicholas Rossolillo and his clients have positions in Alphabet, Fortinet, and Palo Alto Networks. The Motley Fool has positions in and recommends Alphabet, Fortinet, and Palo Alto Networks. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.

Wed, 18 Oct 2023 17:15:00 -0500 Nicholas Rossolillo en text/html
Why Fortinet Stock Is Plummeting Today

Fortinet (FTNT -1.25%) stock is getting crushed following the publication of the company's third-quarter results. The company's share price was down 16.6% as of noon ET Friday, according to data from S&P Global Market Intelligence.

Fortinet published its Q3 report after the market closed yesterday, delivering earnings that topped Wall Street's target and sales that fell short of the market's expectations. More importantly, the company also issued worrying guidance and commentary that prompted an uptick in bearish sentiment.

Wall Street sours on Fortinet stock after Q3

Fortinet posted non-GAAP (adjusted) earnings per share of $0.41 on revenue of $1.33 billion. For context, the average analyst estimate had called for earnings of $0.36 per share on sales of $1.35 billion. Sales in the period were still up roughly 16% year over year, but the performance signaled slowing growth -- and commentary from management confirmed that the near-term performance outlook is significantly weaker than many investors and analysts had anticipated.

Following the Q3 release, Fortinet stock ratings and price target downgrades from multiple high-profile investment firms including Stifel and JPMorgan Chase.

What comes next for Fortinet?

For the current quarter, Fortinet is guiding for sales to come in between $1.38 billion and $1.44 billion -- suggesting roughly 10% year-over-year growth at the midpoint of the target. Meanwhile, the average analyst estimate had targeted sales of $1.49 billion for the period.

The midpoint of the company's guidance range came in roughly 5% lower than the midpoint sales target from analysts, and Fortinet's comments suggest there's a risk that sales could come in at the lower end of its forecast range.

Notably, Fortinet is seeing softening demand for its firewall hardware and services. In turn, the company plans to ramp up investment in security operations, its universal secure access service edge, and secure networking offerings. With a core performance driver seeing its momentum slow and investments into new growth drivers, it's reasonable to expect that sales and earnings performance could be pressured in the near term.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Fortinet. The Motley Fool has a disclosure policy.

Fri, 03 Nov 2023 00:37:00 -0500 Keith Noonan en text/html
Fortinet stock falls on second guidance cut

Shares of Fortinet (FTNT) dropped Friday afternoon after cutting its annual guidance for the second time this year, decreasing its revenue forecast for 2023 to $5.33 billion. The cut stems from lower sales estimates for the fourth quarter, with new estimates between $1.38 billion and $1.44 billion, below previous estimates of $1.50 billion, according to data from the London Stock Exchange Group.

Yahoo Finance Anchors Josh Lipton and Diane King Hall break down the latest information from the cybersecurity company.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video Transcript

JOSH LIPTON: Cybersecurity company Fortinet, sliding after it cut annual guidance a second time now, sees 2023 revenue of 5.33 billion. That's down from a previous guidance of 5.45 billion. So this one-- not good news from the company. You can see the reaction, and we're down about 13% in today's trade. Cut the guidance-- now sees fiscal 23 revenue as you said as much as five-- five-- 5.33 billion.

Remember, this company also-- what they do-- they sell antivirus products. They sell firewalls. This is the second [INAUDIBLE] quarter though where they cut guidance. And by the way though, it's a tough time for this company.

Worth pointing out-- different story at Cloudflare, which is another cybersecurity name. They reported beat, raised guidance, and that stock's moving higher in today's [INAUDIBLE].

DIANE KING HALL: Yeah, exactly. You have convergence happening there. I noticed that with Cloudflare. And originally, Fortinet-- Fortinet had put some pressure on that sector. TD Cowen-- out with a note about Fortinet saying that this is going to be a year of transition for this company, pointing out, obviously, [? the miss. ?]

This was on lackluster demand for its products, billings et cetera. You know, the outlook-- it needs to turn around. You had Guggenheim also out with a note on Fortinet, saying that this is due to the cyclical downturn that we're seeing. It just led to another poor quarter to your point.

Guggenheim pointing out that, and this is led by Raymond McDonnell, that it's going to get worse before it's better for this company clearly. And it is getting punished in terms of the action today.

And when you think about the kind of day it is, it's a risk-on day that we're seeing on Wall Street. There's no grace being shown to this stock at all right now in terms of its performance.

JOSH LIPTON: No mercy into the weekend-- no.


Fri, 03 Nov 2023 03:45:00 -0500 en-US text/html
Fortinet plummets as sales forecast misses estimates No result found, try new keyword!Fortinet (NASDAQ:FTNT) tumbled 20% postmarket Thursday after reporting a forecast that missed estimates. For the fourth quarter, Fortinet expects revenue in the range of $1.38B to $1.44B ... Wed, 01 Nov 2023 12:00:00 -0500 en-us text/html Fortinet’s stock slides after earnings as guidance misses the mark yet again

Fortinet Inc. whiffed badly with its guidance three months ago, and the company’s third-quarter report Thursday brought another disappointment.

The cybersecurity company came up short with its fourth-quarter revenue forecast, which calls for $1.38 billion to $1.44 billion. Analysts were looking for $1.50 billion. Fortinet’s FTNT, -1.25% management also projects $1.56 billion to $1.70 billion in billings, which is defined as GAAP revenue plus the change in deferred revenue from the beginning to the end of the period, minus any deferred revenue balances.

The FactSet consensus on that metric was for $1.90 billion in billings.

Fortinet is looking for 42 cents to 44 cents in adjusted earnings per share during the fourth quarter, which compares with the 42-cent FactSet consensus.

Shares were off 17% in after-hours trading Thursday. The stock had seen a 25% post-earnings drop when Fortinet posted second-quarter results in early August, which made for the stock’s worst single-day percentage drop on record.

Fortinet shares are still up 18% so far this year.

See also: CrowdStrike’s and Zscaler’s stocks are top plays in rocky cybersecurity market, analyst says

The company generated third-quarter revenue of $1.34 billion, up from $1.15 billion a year before, while analysts were modeling $1.35 billion. Billings reached $1.49 billion, up 6% from a year before, whereas analysts had been looking for $1.59 billion.

Third-quarter net income came in at $322.9 million or 41 cents a share, compared with $231.6 million, or 29 cents a share, a year before. The FactSet consensus was for 36 cents a share.

Shares of fellow cybersecurity names, including Palo Alto Networks Inc. PANW, -5.42% and Zscaler Inc. ZS, +0.88%, also fell in after-hours trading Thursday following Fortinet’s report.

Thu, 02 Nov 2023 08:59:00 -0500 en-US text/html
Fortinet’s Stock Price Heading Back Upward

Security News

Kyle Alspach

After several days of losses following its latest financial report, the network security vendor is seeing renewed interest from investors.

Fortinet CEO Ken Xie

Shares in Fortinet are on the rise Wednesday, following several days of stock price losses after its latest quarterly financial report disappointed investors and analysts.

Fortinet’s stock price (ticker: FTNT) is up 2.7 percent to $50.85 as of this writing Wednesday morning.

[Related: Okta, Fortinet See Further Stock Price Declines]

Prior to the reversal, the network security vendor has seen declines in share value each day since last Thursday, when the company released a weaker-than-expected financial report.

At the current Fortinet stock price as of this writing, the company’s shares are 11.7 percent below its closing price of $57.59 Thursday.

It wasn’t immediately clear what may have prompted the rise in Fortinet’s stock price, though investors were also sending shares in other major cybersecurity industry players upward Wednesday morning. Zscaler’s stock price was up 1.6 percent to $174.11 a share, while Palo Alto Networks — a top Fortinet rival that took a hit to its stock price after the vendor’s report last week — was up 0.6 percent to $243.55 as of this writing.

The release Thursday of Fortinet’s results for the third quarter ended Sept. 30 showed a 16 percent gain in overall revenue from a year earlier. However, Fortinet also saw a drop in firewall sales, which led the company’s third-quarter revenue to fall short of the analyst consensus estimate.

Fortinet’s product revenue for Q3 declined 0.6 percent year over year to $465.9 million—marking the company’s first year-over-year decline in firewall sales since it went public in 2009. The company is encountering a “slowdown in secure networking market growth,” said Ken Xie, Fortinet’s co-founder, chairman and CEO, during the company’s quarterly call with analysts Thursday.

The company’s revenue outlook for the fourth quarter also came in below Wall Street expectations.

Amid the report Thursday, Fortinet said it will be shifting more of its focus to faster-growing areas, such as SASE (secure access service edge) and security operations tools. SASE now represents 20 percent of Fortinet’s business while SecOps tools now make up 10 percent.

“In response to the slowdown in [the] secure networking market, we are shifting our marketing and sales team’s focus towards the faster-growing security operations and SASE market over the next few quarters,” Xie said during the call with analysts.

Within the SASE market, “our industry leadership in both firewall and SD-WAN — the two largest components of SASE — provide us with a significant competitive advantage,” he said.

In Fortinet’s third-quarter results, service revenue grew nearly 28 percent year over year to reach $868.7 million, the company reported.

Kyle Alspach

Kyle Alspach is a Senior Editor at CRN focused on cybersecurity. His coverage spans news, analysis and deep dives on the cybersecurity industry, with a focus on fast-growing segments such as cloud security, application security and identity security.  He can be reached at

Wed, 08 Nov 2023 01:46:00 -0600 en text/html
Fortinet Must Face 'Reality Of Constrained Demand' After Mixed Q3, Analyst Says

Shares of Fortinet Inc (NASDAQ:FTNT) tanked in early trading on Friday, after the company reported mixed quarterly results.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.

  • Truist Securities analyst Junaid Siddiqui maintained a Buy rating, while slashing the price target from $82 to $60.
  • Guggenheim Securities analyst Raymond McDonough reiterated a Buy rating, which reducing the price target from $70 to $62.
  • Needham analyst Matt Dezort reaffirmed a Hold rating on the stock.
  • Oppenheimer analyst Ittai Kidron maintained a Perform rating on the stock.
  • KeyBanc analyst Eric Heath reiterated a Sector Weight rating on the stock.

Check out other analyst stock ratings.

Truist Securities: Fortinet reported its third-quarter results below expectations, “amidst an increasingly challenging macro driven by continued weakness in its product revenue segment,” Siddiqui said in a note.

Management reset their full-year guidance, indicating a slowdown in the company’s core secure networking market and “elongated sales cycles amidst increased deal scrutiny,” the analyst added. “Even though we are disappointed with the weak Q3 results, we still continue to favor FTNT's balanced approach to growth and profitability making FTNT a defensible name long-term, in our view."

Guggenheim Securities: Fortinet reported weak quarterly results, with the cyclical downturn in hardware leading to “another product and billings miss,” McDonough said.

“In our view, the current cyclical downturn is likely to be steeper and shorter than the last, which lasted about eight quarters,” the analyst wrote. “This quarter and subsequent guides suggest a steeper decline, but we do believe we are more than halfway through this ‘period of digestion’."

Needam: “Fortinet corrected sharply after Q3 Billings and Product Revenue missed on a sharper than expected slowdown in secure networking appliance sales,” Dezort wrote in a note.

“The outlook also disappointed with Billings growth now expected to recover into the double-digits in 2H24, down from prior messaging for mid-teens,” the analyst stated. “Fortinet is shifting focus and reorienting their sales force toward a SASE and SecOps first motion, which is likely to take a few quarters to digest adding to the headwinds near-term."

Oppenheimer: Although Fortinet delivered an earnings beat in the third quarter, its billings and revenues were disappointing and the company lowered its full-year guidance for the second consecutive quarter, Kidron said.

“In our opinion, Fortinet must now face the reality of constrained demand in its core firewall market, which will pressure its growth moving forward,” the analyst wrote. “And while the company is shifting its focus to SASE and SecOps, these are highly competitive markets that Fortinet was late to invest in,” he added.

KeyBanc: Fortinet delivered “a large 3Q miss and guide lower on billings, revenue and product revenue as the firewall digestion period is more extensive than expected and execution remains challenging,” Heath said.

“Weakness was more pronounced in Europe, U.S., large enterprise, as well as in the service provider and retail verticals,” the analyst added.

FTNT Price Action: Shares of Fortinet had declined by 15.58% to $48.62 at the time of publication Friday.

Thu, 02 Nov 2023 23:14:00 -0500 en text/html
Fortinet Stock (NASDAQ:FTNT): The Big Picture Remains Bright No result found, try new keyword!Fortinet (NASDAQ:FTNT), a global security leader, lost more than 12% of its value on November 3 after reporting third-quarter earnings that failed to impress investors and analysts. However, the ... Mon, 06 Nov 2023 10:01:00 -0600

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