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Exam Code: NSE5 Practice exam 2022 by Killexams.com team
NSE5 Fortinet Network Security Expert 5 Written (500)

The Network Security Analyst designation recognizes your ability to implement network security management and analytics using Fortinet security devices.

You must successfully pass a minimum of any two Fortinet NSE 5 certification exams:
Fortinet NSE 5 - FortiAnalyzer
Fortinet NSE 5 - FortiManager
Fortinet NSE 5 - FortiSIEM
Fortinet NSE 5 - FortiClient
To prepare for the certification exams, we recommend that you take the corresponding NSE 5 product courses. The courses are optional.

Fortinet Network Security Expert 5 Written (500)
Fortinet Fortinet reality
Killexams : Fortinet Fortinet reality - BingNews https://killexams.com/pass4sure/exam-detail/NSE5 Search results Killexams : Fortinet Fortinet reality - BingNews https://killexams.com/pass4sure/exam-detail/NSE5 https://killexams.com/exam_list/Fortinet Killexams : Why Fortinet Stock Stock Is Falling Hard Today No result found, try new keyword!Despite strong quarterly results delivered after the bell Wednesday, investors latched onto management's slightly disappointing revenue guidance. Thu, 04 Aug 2022 04:53:21 -0500 en-us text/html https://www.msn.com/en-us/money/topstocks/why-fortinet-stock-stock-is-falling-hard-today/ar-AA10j17A Killexams : Here is What to Know Beyond Why Fortinet, Inc. (FTNT) is a Trending Stock

Fortinet (FTNT) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this network security company have returned -14.4%, compared to the Zacks S&P 500 composite's +6.3% change. During this period, the Zacks Security industry, which Fortinet falls in, has lost 8.1%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate Revisions

Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Fortinet is expected to post earnings of $0.27 per share for the current quarter, representing a year-over-year change of +35%. Over the last 30 days, the Zacks Consensus Estimate has changed -4.4%.

For the current fiscal year, the consensus earnings estimate of $1.04 points to a change of +30% from the prior year. Over the last 30 days, this estimate has changed +1.8%.

For the next fiscal year, the consensus earnings estimate of $1.28 indicates a change of +22.8% from what Fortinet is expected to report a year ago. Over the past month, the estimate has changed +4.9%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Fortinet.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

12-month consensus EPS estimate for FTNT _12MonthEPSChartUrl

Projected Revenue Growth

Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Fortinet, the consensus sales estimate for the current quarter of $1.12 billion indicates a year-over-year change of +29.6%. For the current and next fiscal years, $4.38 billion and $5.29 billion estimates indicate +31% and +20.9% changes, respectively.

Last Reported Results and Surprise History

Fortinet reported revenues of $1.03 billion in the last reported quarter, representing a year-over-year change of +28.6%. EPS of $0.24 for the same period compares with $0.19 a year ago.

Compared to the Zacks Consensus Estimate of $1.03 billion, the reported revenues represent a surprise of +0.43%. The EPS surprise was +9.09%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

Valuation

Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Fortinet is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom Line

The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Fortinet. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.


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Fortinet, Inc. (FTNT) : Free Stock Analysis Report
 
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Tue, 09 Aug 2022 01:00:00 -0500 en-US text/html https://finance.yahoo.com/news/know-beyond-why-fortinet-inc-130001883.html
Killexams : What Are Whales Doing With Fortinet No result found, try new keyword!A whale with a lot of money to spend has taken a noticeably bearish stance on Fortinet. Looking at options history for Fortinet (NASDAQ:FTNT) we detected 14 strange trades. Thu, 04 Aug 2022 04:06:20 -0500 en-us text/html https://www.msn.com/en-us/money/news/what-are-whales-doing-with-fortinet/ar-AA10iWuR Killexams : Fortinet Looks to Address Rising Costs with Price Increases

Endpoint Protection Platforms (EPP) , Endpoint Security , Intrusion Prevention Systems (IPS)

Fortinet Says Price Hikes Have More Than Offset Supply Chain, Geopolitical Issues
Fortinet Looks to Address Rising Costs With Price Increases
Ken Xie, CEO, Fortinet (Photo: Fortinet)

Fortinet has raised prices on products and services to address macroeconomic challenges including shipping delays, longer activation timelines and the suspension of sales in Russia.

See Also: OnDemand | Zero Tolerance: Controlling The Landscape Where You'll Meet Your Adversaries

The Silicon Valley-based platform security vendor says price hikes have more than offset supply chain and geopolitical headwinds in recent months, allowing Fortinet to increase both product gross margins and short-term deferred revenue from a year ago, according to CFO Keith Jensen. Service gross margins dropped since it will take longer for that side of the business to benefit from higher prices, Jensen says (see: Fortinet CEO Ken Xie: OT Business Will Be Bigger Than SD-WAN).

"Our goal is really to try over a longer period of time to just match the cost increases and maintain a consistent margin," Jensen tells investors Wednesday. "It's not that we're really trying to take down more margin."

Fortinet has found that higher prices don't tend to result in lost business since the company has historically offered 30% to 40% better performance at the same price as products from competitors, Jensen says. Fortinet tracks "very religiously" in its CRM tool why it loses competitive deals and hasn't seen any uptick in deals being lost on price since the company began charging customers more, he says.

"The question is always, 'How far can you push the envelope?'" Jensen says. "We know we come into the conversation with a significant price performance advantage."

The company has even raised prices around products that are no longer shipping since higher labor costs mean the expense associated with providing services and renewals on older products has increased, according to CEO Ken Xie. Although the price of the older product itself hasn't changed, Xie says customers now have to spend more to service and support that product.

Channel partners receive 60 days advanced notice before a price increase takes effect, and Jensen says the impact of price hikes is felt fairly quickly from both a product revenue and billings perspective. The trickle-down effect is much slower when it comes to service revenue, but Jensen expects growth to accelerate there as well in late 2022 and 2023 thanks to the price increases.

"You're going to see the benefit over a much longer period of time on the service revenue line," Jensen says. "You will see the benefit in billings much sooner. That's a very good leading indicator of where service revenue growth is going to go in the future."

Surviving the Supply Chain Squeeze

Price hikes are just one way Fortinet has attempted to address supply chain challenges alongside increasing inventory purchase commitments, redesigning products and qualifying additional suppliers, according to Jensen. But even with those actions, Jensen says demand continues to outpace supply, meaning that Fortinet's backlog is expected to increase throughout the rest of 2022.

"As we balance our pricing actions with the opportunity for continued market share gains, we have passed along most but not all cost increases," Jensen says.

Fortinet's backlog increased yet again in the quarter ended June 30 by $72 million to $350 million, but the rate of increase is down from $120 million in the first quarter of 2022, according to Xie. Networking equipment accounted for 50% of Fortinet's backlog due to continued challenges sourcing raw materials for switches and access points, while the company's FortiGate firewalls accounted for 40% of backlog.

"Our operation and R&D teams did an excellent job navigating the tough supply chain environment," Jensen says. "Nonetheless, we still expect supply chain constraints to be challenging throughout the remainder of the year."

Fortinet's gross margins have been affected not only by price increase but also the product mix from one quarter to the next, Jensen says. The company earns more profit on high-end firewalls as compared with entry-level firewalls, meaning that if Fortinet introduces a high-end firewall in a specific quarter or ends up with more high-end firewall shipments, the company's margins are likely to be higher, he says.

The impact of the economic downturn on Fortinet has thus far been brief and relatively insignificant, Jensen says. Fortinet saw a dip in field closure rates during the first half of June as well as the addition of an approver or negotiator on the customer side in larger deals to ensure the client was making the right decision, according to Jensen. But despite the pause, close rates actually increased slightly last quarter.

"For whatever reason, there was a slight pause there for a couple weeks in June," Jensen says. "But everybody came back and got the deal done that last week in June."

Product Revenue Growth Outpaces Service

Category Q2 2022 Q2 2021 % Change
Total Revenue $1.03B $801.1M 28.6%
Service Revenue $629.4M $502.68M 25.2%
Product Revenue $400.7M $240.7M 34.3%
Americas Revenue $413.6M $337M 22.7%
EMEA Revenue $391.8M $306.2M 28%
APAC Revenue $224.7M $157.9M 42.3%
Net Income $173.5M $137.5M 26.2%
Earnings Per Diluted Share $0.21 $0.16 31.3%
Non-GAAP Net Income $194.1M $158.7M 22.3%
Non-GAAP Earnings Per Share $0.24 $0.19 26.3%
Source: Fortinet

Fortinet's revenue of $1.03 million in the quarter ended June 30 was in line with Seeking Alpha's sales estimate. Meanwhile, the company's non-GAAP earnings of $0.24 per share edged out Seeking Alpha's non-GAAP estimate of $0.22 per share.

The company's stock is down $5.88 - 9.35% - to $57 per share in after-hours trading Wednesday. That's the lowest Fortinet's stock has traded since July 26.

The Americas accounted for 40.2% of Fortinet's revenue in the second quarter, while Europe, the Middle East and Africa, or EMEA, delivered 38% of revenue and Asia-Pacific, or APAC, was responsible for the remaining 21.8% of revenue.

For all of 2022, Fortinet expects non-GAAP net income of $1.01 to $1.06 per share on revenue of between $4.35 billion and $4.4 billion. Analysts had been expecting non-GAAP net income of $1 per share on sales of $4.38 billion.

Tue, 02 Aug 2022 12:00:00 -0500 en text/html https://www.govinfosecurity.com/fortinet-looks-to-address-rising-costs-price-increases-a-19704
Killexams : Fortinet (FTNT) to Post Q2 Earnings: What's in the Cards?

Fortinet FTNT is scheduled to report second-quarter 2022 results on Aug 3.

The cybersecurity firm projects revenues between $1.005 billion and $1.035 billion. The Zacks Consensus Estimate for the same is pegged at $1.03 billion, suggesting year-over-year growth of 28%.

At the time of its first-quarter earnings release, the company had anticipated reporting non-GAAP earnings from continuing operations in the range of $1.05 to $1.10 per share. However, considering shareholders’ approval for the company’s planned five-for-one stock split in June 2022, the restated non-GAAP earnings guidance range is forecast at 21-22 cents per share. The Zacks Consensus Estimate stands at 22 cents per share, suggesting growth of 15.8% from the year-ago restated figure of 19 cents.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.7%.

 

Fortinet, Inc. Price and EPS Surprise

Fortinet, Inc. Price and EPS Surprise

Fortinet, Inc. price-eps-surprise | Fortinet, Inc. Quote

Factors to Note

For the April-June quarter, Fortinet anticipates billings in the band of $1.225 billion to $1.265 billion. At the mid-point, this indicates growth of 30%. The heightened demand for its security and networking products amid the post-pandemic reality of remote working and accelerated emergence of digital technologies might have benefited the to-be-reported quarter’s performance.

The rapid adoption of FortiGate-based secure Software-Defined Wide Area Network (SD-WAN) offerings is likely to have supported Fortinet’s Product segment. The Zacks Consensus Estimate for Product revenues in the June-end quarter stands at $392 million, suggesting year-over-year growth of 31.5%.

FortiGuard security subscriptions and FortiCare technical support services are likely to have gained solid traction, favoring the company’s Services segment. The Zacks Consensus Estimate for quarterly Services revenues is pegged at $632 million, indicating a year-over-year improvement of 25.6%.

As one of the broadest security service providers globally, Fortinet’s FortiTrust, a unified solution with a single user-based licensing model for flexible consumption across networks, endpoints and clouds, has been witnessing solid traction. This might have driven the company’s private and public cloud billings as well.

Fortinet’s second-quarter performance is likely to have gained from higher global cybersecurity spending. The growing adoption of SD-WAN solutions might have acted as a tailwind. Per Future Market Insights, the market size for SD-WAN solutions is likely to reach $53.8 billion by 2032 from $3.4 billion in 2022, witnessing a CAGR of 31.6% during 2022-2032.

However, worldwide supply-chain constraints, including the backlog in Fabric products, may have hurt FTNT’s overall second-quarter performance.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for Fortinet this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.

Though Fortinet currently carries a Zacks Rank of 3, it has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With Favorable Combination

Per our model, MRC Global MRC, Alcon ALC and Grocery Outlet GO have the right combination of elements to post an earnings beat in their upcoming releases.

MRC Global is slated to report second-quarter 2022 results on Aug 8. The company has a Zacks Rank #1 and an Earnings ESP of +30.27% at present. MRC's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 140.8%. You can see the complete list of today's Zacks #1 Rank stocks here.

MRC’s Zacks Consensus Estimate for quarterly earnings is pegged at 25 cents per share, suggesting a whopping year-over-year surge of 212.5%. Its quarterly revenues are estimated to increase 23.4% year over year to $846.5 million.

Alcon has a Zacks Rank #1 and an Earnings ESP of +1.08%. The company is expected to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.

In the second quarter, Alcon’s Zacks Consensus Estimate for earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenue is expected to grow 4.4% to $2.19 billion.

Grocery Outlet, which has an Earnings ESP of +5.62%, carries a Zacks Rank #2. The company is likely to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.

The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. GO anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Thu, 28 Jul 2022 14:03:00 -0500 en-US text/html https://finance.yahoo.com/news/fortinet-ftnt-post-q2-earnings-145402433.html
Killexams : Fortinet Launches New Cloud-native Protection Offering on AWS

Fortinet recently announced FortiCNP, a new built-in-the-cloud offering that correlates security findings from across an organization’s cloud footprint to facilitate friction-free cloud security operations.

FortiCNP’s patented Resource Risk Insights (RRI)TM technology produces context-rich, actionable insights that help teams prioritize the remediation and mitigation of risks with the highest potential impact on cloud workload security without slowing down the business.

Also announced today, Fortinet is an Amazon Web Services (AWS) Launch Partner for Amazon GuardDuty Malware Protection, which provides agentless malware detection capabilities across AWS data stores, disk volumes, and workload images. FortiCNP supports Amazon GuardDuty Malware Protection, delivering near-real-time threat protection with zero-permission capabilities to actively scan running workloads with no impact or delays to operations.

A defining feature of FortiCNP is integration with AWS security products and services, and the Fortinet Security Fabric, which helps organizations more effectively secure their cloud environments and maximize their cloud security investments.

FortiCNP Resource Risk Insights (RRI)TM leverages a patented risk score algorithm to contextualize security findings from Fortinet Cloud Security solutions and AWS products and services to provide teams with prioritized, context-rich, and actionable insights about resources that present the highest risk and need immediate attention.

By analyzing, correlating, and contextualizing security findings from AWS cloud security services with FortiCNP, customers maximize the value and benefit from easy deployment capabilities offered by Amazon GuardDuty Malware Protection, Amazon Inspector, AWS Security Hub, AWS CloudTrail, and AWS Organizations.

Jon Ramsey, Vice President (VP) AWS Security
At AWS, we provide our customers with smarter tools to easily take action and mitigate risk faster. Security Partners like Fortinet with their FortiCNP offering built on AWS and integrated with our security services like Amazon GuardDuty provide customers a choice to simplify and accelerate their cloud journey with cloud-native security services.

John Maddison, EVP of Products and CMO at Fortinet
FortiCNP is the latest example of Fortinet’s commitment to delivering Fabric solutions that extend enterprise security with cloud-native integrations. We’re pleased to continue to deliver solutions that allow security professionals to transition from time-consuming triage and manual analysis processes to proactively securing their cloud workloads and easily understand their cloud security risk.

Thu, 04 Aug 2022 14:11:00 -0500 en text/html https://www.thefastmode.com/technology-solutions/26691-fortinet-launches-new-cloud-native-protection-offering-on-aws
Killexams : Fortinet and Rapid7 shares drop on weak outlooks amid broader market issues

Fortinet Inc. and Rapid7 Inc. shares dropped in late trading after both reported lower-that-expected outlooks amid broader market issues, including negative economic growth and 40-year high inflation.

For its second quarter ended June 30, Fortinet reported a profit before costs such as stock compensation of $194.1 million, or 24 cents per share, up from $158.7 million, or 19 cents per share in the same quarter of last year. Revenue rose 29%, to $1.03 billion.

Analysts had been expecting a profit of 22 cents per share on revenue of $1.03 billion.

Fortinet’s product revenue in the quarter rose 34%, to $400.7 million, service revenue rose 25.2%, to $629.4 million, and total bookings rose 42%, to $1.38 billion. Deferred revenue as of the end of June was $3.93 billion, up 35%.

“We delivered strong revenue and billings growth in the second quarter driven by an over 50% year-over-year increase in the number of transactions larger than $1 million,” Ken Xie (pictured), founder, chairman and chief executive officer of Fortinet, said in a statement. “Large enterprise companies continue to favor Fortinet’s industry-leading cost for performance advantage and integrated platform strategy.”

For the third quarter, Fortinet is predicting an adjusted profit of 26 to 28 cents a share on revenue of $1.105 billion to $1.135 billion. Analysts had expected 27 cents and $1.13 billion. For the full-year 2022, earnings per share are predicted to be $1.01 to $1.06 on revenue of $4.35 billion to $4.4 billion. Analysts had expected a profit of $1.03 a share on revenue of $4.39 billion.

Fortinet’s figures were roughly in line with what analysts expected, but the company had previously said that it expected earnings per share of $5.00 to $5.15 for the full year and investors noticed. Fortinet shares were down almost 10% in late trading.

Rapid7 reported an adjusted loss of one cent per share on revenue of $167.5 million in the quarter. Analysts had expected a loss of four cents a share on revenue of $164.12 million.

Annualized recurring revenue rose 35% year-over-year, to $658 million, while the company’s number of customers ended the quarter at 10,624, up 14%. ARR per customer rose 18%, to $62,000.

“As customers prioritize spending around their modern cloud environments, Rapid7 continues to address their most urgent security challenges with our market-leading Insight platform,” Corey Thomas, chairman and CEO of Rapid7, said in the company’s earnings release. “In the current environment, there is a significant opportunity for consolidation across security operations from both a capability and economic standpoint, and our differentiated solutions are positioned to enable customers to accelerate that process while driving profitable, sustainable growth for Rapid7.”

For the third quarter, Rapid7 predicts an adjusted profit of three to six cents per share on revenue of $175 million to $177 million. Analysts had expected a profit of 14 cents a share on revenue of $177.8 million. For the full year, the company is predicting a profit of eight to 15 cents a share on revenue of $686 million to $690 million versus an expected 11 cents and $689.85 million.

The stronger-than-expected figures for the second quarter were outweighed by the miss in the third-quarter outlook. Rapid7’s shares were down 3% after the bell.

Photo: SiliconANGLE

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Wed, 03 Aug 2022 12:49:00 -0500 en-US text/html https://siliconangle.com/2022/08/03/fortinet-rapid7-shares-drop-weak-outlook-amid-broader-market-issues/
Killexams : Fortinet unveils ‘fastest’ compact firewall for hyperscale data centers and 5G networks

Fortinet has unveiled a new series of compact firewalls to help enterprises and 5G mobile network operators (MNOs) run more applications concurrently with a smaller footprint.

Dubbed FortiGate 4800F, the new flagship line of firewalls comes with a 4RU chassis and 400GbE, 200GbE, and 50GbE interfaces. Building on Fortinet’s seventh-generation network processors (NP7), the firewalls can support, on average, 19 times more connections per second. 

The FortiGate 4800F series also offers support for encryption standard TLS 1.3. Additionally, natively integrated universal zero trust network access (ZTNA) ensures steadfast and consistent policies and security controls spanning all operating environments, on-premise or virtual.

Furthermore, FortiGate AI-Powered Security Services adds an extra layer of protection by offering real-time insight into known, zero-day, and unknown threats.

“No other firewall is better suited to support hyperscale and 5G. Not only is FortiGate 4800F the industry’s fastest compact hyperscale firewall, with 2.4 Tbps of capacity, but it is also the only 4RU chassis on the market that includes 400GbE, 200GbE, and 50GbE ports, which allows hyperscale customers and mobile network operators to seamlessly scale their business without disrupting operations,” said John Maddison, EVP of products and CMO at Fortinet.

“The combination of performance and scalability packed into our latest firewall will help future-proof organizations’ investments in hyperscale data centers, especially with the rise of 5G and as the volume and velocity of data continues to accelerate at an unprecedented pace,” added

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Thu, 04 Aug 2022 05:41:00 -0500 en text/html https://www.itpro.co.uk/security/firewalls/368739/fortinet-unveils-fastest-compact-firewall-for-hyperscale-data-centers-and
Killexams : Fortinet (FTNT) to Post Q2 Earnings: What's in the Cards?

Fortinet FTNT is scheduled to report second-quarter 2022 results on Aug 3.

The cybersecurity firm projects revenues between $1.005 billion and $1.035 billion. The Zacks Consensus Estimate for the same is pegged at $1.03 billion, suggesting year-over-year growth of 28%.

At the time of its first-quarter earnings release, the company had anticipated reporting non-GAAP earnings from continuing operations in the range of $1.05 to $1.10 per share. However, considering shareholders’ approval for the company’s planned five-for-one stock split in June 2022, the restated non-GAAP earnings guidance range is forecast at 21-22 cents per share. The Zacks Consensus Estimate stands at 22 cents per share, suggesting growth of 15.8% from the year-ago restated figure of 19 cents.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.7%.

 

Fortinet, Inc. Price and EPS Surprise

Fortinet, Inc. Price and EPS Surprise

Fortinet, Inc. price-eps-surprise | Fortinet, Inc. Quote

Factors to Note

For the April-June quarter, Fortinet anticipates billings in the band of $1.225 billion to $1.265 billion. At the mid-point, this indicates growth of 30%. The heightened demand for its security and networking products amid the post-pandemic reality of remote working and accelerated emergence of digital technologies might have benefited the to-be-reported quarter’s performance.

The rapid adoption of FortiGate-based secure Software-Defined Wide Area Network (SD-WAN) offerings is likely to have supported Fortinet’s Product segment. The Zacks Consensus Estimate for Product revenues in the June-end quarter stands at $392 million, suggesting year-over-year growth of 31.5%.

FortiGuard security subscriptions and FortiCare technical support services are likely to have gained solid traction, favoring the company’s Services segment. The Zacks Consensus Estimate for quarterly Services revenues is pegged at $632 million, indicating a year-over-year improvement of 25.6%.

As one of the broadest security service providers globally, Fortinet’s FortiTrust, a unified solution with a single user-based licensing model for flexible consumption across networks, endpoints and clouds, has been witnessing solid traction. This might have driven the company’s private and public cloud billings as well.

Fortinet’s second-quarter performance is likely to have gained from higher global cybersecurity spending. The growing adoption of SD-WAN solutions might have acted as a tailwind. Per Future Market Insights, the market size for SD-WAN solutions is likely to reach $53.8 billion by 2032 from $3.4 billion in 2022, witnessing a CAGR of 31.6% during 2022-2032.

However, worldwide supply-chain constraints, including the backlog in Fabric products, may have hurt FTNT’s overall second-quarter performance.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for Fortinet this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.

Though Fortinet currently carries a Zacks Rank of 3, it has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With Favorable Combination

Per our model, MRC Global MRC, Alcon ALC and Grocery Outlet GO have the right combination of elements to post an earnings beat in their upcoming releases.

MRC Global is slated to report second-quarter 2022 results on Aug 8. The company has a Zacks Rank #1 and an Earnings ESP of +30.27% at present. MRC's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 140.8%. You can see the complete list of today's Zacks #1 Rank stocks here.

MRC’s Zacks Consensus Estimate for quarterly earnings is pegged at 25 cents per share, suggesting a whopping year-over-year surge of 212.5%. Its quarterly revenues are estimated to increase 23.4% year over year to $846.5 million.

Alcon has a Zacks Rank #1 and an Earnings ESP of +1.08%. The company is expected to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.

In the second quarter, Alcon’s Zacks Consensus Estimate for earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenue is expected to grow 4.4% to $2.19 billion.

Grocery Outlet, which has an Earnings ESP of +5.62%, carries a Zacks Rank #2. The company is likely to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.

The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. GO anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.

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