2024-03-14 15:46:35 ET
Summary
- Fortinet beats analyst revenue estimates and earnings per share forecasts in its latest earnings report.
- The company focuses on secure networking, SASE, and SecOps, which are expected to drive revenue growth.
- Fortinet's strategy shift towards SASE and SecOps has the potential to attract investors and improve its competitive position in the cybersecurity market.
In an era of rising hacking incidents, with the latest being a ransomware incident involving Bank of America Corporation ( BAC ) customers in February 2024, investors are beginning to pay more attention to cybersecurity stocks. One cybersecurity company that investors are starting to notice after its latest earnings report is Fortinet, Inc. ( FTNT ). The company beat analyst revenue estimates by $10M, beat earnings per share ("EPS") forecasts by $0.08, and displayed impressive billings numbers . The stock rose 4% on February 7, 2024, the day after the company released its fourth quarter 2023 earnings report....
Read the full article on Seeking Alpha
For further details see:
Fortinet's New Strategy: A Reason For Investors To Buy The Stock