Fortinet continues to impress with robust financial performance, highlighted by a 25% growth in billings and 19% revenue growth, supported by recurring service contracts. The company’s deferred revenue stands at $7.68 billion, reflecting strong demand for its hybrid security products. Margins remain strong with a non-GAAP operating margin of 38% and adjusted free cash flow margin of 49%, while free cash flow more than tripled year-over-year. Despite a demanding valuation, Fortinet’s industry-leading margins, resilient service revenue, and strong cash position support ongoing buybacks and growth, justifying a Buy rating.
Fortinet introduced the FortiLink SASE Service, a cloud-delivered security solution designed to protect small branch offices and remote sites without needing dedicated onsite firewalls. This service connects local networks to FortiSASE via Fortinet W...
Jefferies maintains a 'hold' rating on Fortinet, highlighting that the upcoming earnings outlook for 2027 will be crucial for investors. While Fortinet's third-quarter product revenue growth is expected to be strong at around 50% year-on-year, surpas...
