FTNT Stock Recent News

Global cybersecurity leader Fortinet Inc. NASDAQ: FTNT stock has been surging following its robust Q2 2024 earnings top and bottom line beats. The company went ahead and raised its full-year 2024 guidance as a sweet cherry on top.

Fortinet's share price surged ~25% post 2Q24 earnings beat with revenue at $1.43 billion and EPS at $0.57, achieving record margins. Fortinet's market leadership, strong financials, and promising indicators makes it a good long-term buy. Fortinet's consistent product leadership is an indicator for long-term success.

Fortinet continues to execute the thesis we outlined at the end of 2023 and still has many growth levers and market potential. The second quarter has been very strong, achieving record margins, making two acquisitions, and developing the product ecosystem, with the bottom of the cycle very close. The 25% rise in one day has left FTNT at a fair, but not demanding, valuation. It will continue to perform well in the long term.

Fortinet NASDAQ: FTNT stock surged more than 25% following its Q2 release because it reached an inflection point. The company's lean into unified SASE and Security Ops resonates with businesses, providing a simpler approach to cloud-based cybersecurity.

Major U.S. equities indexes reversed early gains to close lower on Wednesday, as Tuesday's stock market rebound failed to maintain its momentum. The S&P 500 slipped 0.8%, while the Nasdaq dropped 1.1%, and the Dow lost 0.6%.

Fortinet (FTNT) shares took off Wednesday after the cybersecurity firm released a strong set of financial results, posting its highest-ever quarterly operating margin while topping sales and profit forecasts.

Fortinet (NASDAQ: FTNT ) stock is up a staggering 25% today after reporting strong second-quarter earnings results. Indeed, the cybersecurity stock led Wall Street in the morning as the top gainer.

Fortinet's shares soared by nearly 25% after a strong earnings report. Product sales dipped while service revenues soared, resulting in a total revenue jump of 11%.

Fortinet, Inc. delivered strong results with better growth rates and profitability, leading to a 15% premarket jump and a revised buy rating. Fortinet's near-term prospects include record operating margins, market share gains, and investments in fast-growing areas like Unified SASE and Secure Ops. Fortinet's outlook for 2024 has improved, with potential revenue reacceleration and a valuation of 20x next year's non-GAAP operating income, making it an attractive investment.

The cybersecurity firm also raised its full-year revenue outlook.