FTNT - Is Fortinet Stock a Buy Right Now?

2024-07-14 06:16:00 ET

As technology gets incorporated into every facet of the modern economy, it's becoming clearer that no company can escape the need for robust cybersecurity protection. Last year, 75% of companies were at risk of a cyberattack, according to Statista.

Thanks to its expanding lineup of firewall and security offerings, Fortinet (NASDAQ: FTNT) has become a leader in protecting these companies from such threats.

But Fortinet's path to that leadership position hasn't been straight and easy and its stock price is suffering lately on news that its billings fell and its revenue growth isn't matching expectations.?? The news pushed its share price down 12.5% over the past three months.

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