This cybersecurity stock has stepped on the gas, and it looks set to deliver more upside.Fortinet (FTNT 0.58%) released its second-quarter 2024 results on Aug. 6, and the stock has witnessed a massive surge of 35% since then thanks to impressive growth in its revenue and earnings that were enough to help it beat Wall Street's expectations.The cybersecurity specialist also raised its full-year revenue guidance. This further explains why the stock has made a parabolic move, a phenomenon that refers to the rap ...

Investors might want to bet on Fortinet (FTNT) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changin ...

Fortinet (FTNT) , a leading cybersecurity firm, has seen its stock surge an impressive 30.3% year to date, outpacing the Zacks Computer and Technology sector's return of 20.2% and many of its tech sector peers. This remarkable performance has caught the attention of investors and analysts alike, prompting questions about the sustainability of this growth and whether the ongoing cybersecurity boom can propel the stock even higher. This robust performance comes amid a growing focus on digital security, as org ...

Fortinet (FTNT) recently announced a new partnership with Juventus Football Club. Under this sponsorship agreement, Fortinet will become Juventus’ Official Cybersecurity Partner for the next two seasons through 2026.Juventus, based in Turin, Italy, is known for its sustainability efforts and its Allianz Stadium, which serves as a major entertainment and tourist venue. Fortinet’s solutions will be implemented across several key locations in the Continassa area, including the Juventus headquarters, Allianz St ...

As of Aug 16, 2024, three stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, ac ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fortinet (FTNT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Fortinet is a member of the Computer and Technology sector. This group includes 617 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best ...

Parkev Tatevosian, CFA 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. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Did you analyze how Fortinet (FTNT) fared in its international operations for the quarter ending June 2024? Given the widespread global presence of this network security company, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities.In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must ...

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. The strong demand for its next-generation firewalls and the convergence of networking and security needs underscored the masterful performance. Record-breaking ransomware extortion and enterprise security breach headlines have put companies on guard to limit their attack surfaces. ...

da-kuk Earnings summary On August 07, 2024, share price for Fortinet (NASDAQ:FTNT) was up ~25% after it delivered a beat to both 2Q24 revenue and EPS. Revenue for the quarter came in at $1.43 billion vs consensus estimates of $1.4 billion, representing a 11% YoY increase. EPS came in at $0.57 vs consensus estimates of $0.43. Fortinet also achieved record quarterly gross and non-GAAP operating margins at 81.5% and 35.1% respectively. Gross margins improvements were led by higher product and services gros ...