Fortinet (FTNT) has been making noteworthy strides in the
cybersecurity market, evidenced by its recent growth stocks, strong investor attraction, and its partnership with Juventus. However, its share value has experienced some volatility, both rising and falling sporadically over time. Though FTNT has showcased strong
capital allocation and portfolio, there are concerns about increasing
data breaches, which have reportedly affected some of its clients.
The company recently opened an
Innovation Hub in Chicago, expanding its global reach. FTNT beat its Q2 earnings and revenue estimates, resulting in increased market interest. Notably, the firm has also completed the
acquisition of Lacework.
Institutional owners hold approximately 70% of the company, highlighting its status among market whales. Despite some setbacks, analysts still rate FTNT as a strong growth stock for the long-term.
Meanwhile, the performance of its cybersecurity counterparts such as Palo Alto Networks and Zscaler pose competitive challenges. Despite selling some of his shares, CFO Keith Jensen's move does not necessarily indicate bearish sentiments towards the company's prospects. All considered, Fortinet remains a significant player in the cybersecurity sector.
Fortinet FTNT News Analytics from Wed, 07 Feb 2024 08:00:00 GMT to Sun, 22 Sep 2024 07:51:14 GMT -
Rating 7
- Innovation 8
- Information 7
- Rumor -3