Game-Changing Tech Stocks: Fortinet (FTNT)
Fortinet (FTNT) specializes in network security, specifically on “unified threat management,” which means the typical firewall has evolved into an all-in-one product that detects and prevents intrusions. The company offers a number of application control and firewall software offerings, but its flagship device is FortiGate, a network security platform that can work for anyone from small offices and retailers to large enterprises and data centers.
FTNT’s most recent results showed strong 17% revenue growth and a nice 20% rise in billings, which means that revenue visibility and demand are both quite healthy. Moreover, management stated that they have been winning business from tech heavyweights, including Juniper (JNPR) and Cisco (CSCO). And while many of the company’s competitors have slowed down, FTNT is steadily growing.
Security spending is important to larger enterprises, especially since there have been several wide-scale cybersecurity breaches and sensitive data theft recently.