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Exam Code: NSE7_EFW-6.2 Practice exam 2022 by Killexams.com team
NSE7_EFW-6.2 Fortinet NSE 7 - Enterprise Firewall 6.2

Fortinet NSE 7 - Enterprise Firewall 6.2
Exam series: NSE7_EFW-6.2
Number of questions: 30
Time allowed to complete: 60 minutes
Language: English and Japanese
Product version: FortiOS 6.2
Status: Available

1. Security Fabric
2. FortiOS Architecture
3. Traffic and Session Monitoring
4. Routing
5. FortiGuard
6. High Availability
7. Central Management
8. OSPF
9. Border Gateway Protocol (BGP)
10. Web Filtering
11. Intrusion Prevention System (IPS)

After completing this course, participants will be able to:
l Integrate FortiManager, FortiAnalyzer, and multiple FortiGate devices using the Fortinet Security Fabric
l Centralize the management and monitoring of network security events
l Optimize FortiGate resources
l Diagnose and monitor user traffic using FortiGate debug tools
l Troubleshoot issues with conserve mode, high CPU, firewall policies, session helpers, IPsec, FortiGuard, content inspection, routing, and HA
l Harden the enterprise services
l Simultaneously deploy IPsec tunnels to multiple sites using the FortiManager VPN console
l Configure ADVPN to enable on-demand VPN tunnels between sites
l Combine OSPF and BGP to route the enterprise traffic

Fortinet NSE 7 - Enterprise Firewall 6.2
Fortinet Enterprise information source
Killexams : Fortinet Enterprise information source - BingNews https://killexams.com/pass4sure/exam-detail/NSE7_EFW-6.2 Search results Killexams : Fortinet Enterprise information source - BingNews https://killexams.com/pass4sure/exam-detail/NSE7_EFW-6.2 https://killexams.com/exam_list/Fortinet Killexams : Fortinet warns that critical authentication bypass flaw has been exploited
Image: Getty Images

The Cybersecurity and Infrastructure Security Agency (CISA) has added a Fortinet critical flaw to its known exploited vulnerabilities catalog.   

CISA on Tuesday added the flaw to the KEV catalog, a day after Fortinet revealed an authentication bypass CVE-2022-40684 that it patched last week was already being exploited in the wild.

"Fortinet is aware of an instance where this vulnerability was exploited, and recommends immediately validating your systems against the following indicator of compromise in the device's logs," Fortinet said

Also: The scary future of the internet: How the tech of tomorrow will pose even bigger cybersecurity threats

The firm has released updates for FortiOS, FortiProxy and FortiSwitchManager to address the flaw, which affects several of its security appliances.

"An authentication bypass using an alternate path or channel vulnerability [CWE-288] in FortiOS, FortiProxy and FortiSwitchManager may allow an unauthenticated atttacker to perform operations on the administrative interface via specially crafted HTTP or HTTPS requests."

However, for customers that can't apply updates immediately, it has also provided workarounds to disable HTTP/HTTPS administrative interface or limit IP addresses that can reach the administrative interface. 

Separately, CISA on Tuesday also added the Windows flaw CVE-2022-41033 to its KEV catalog. Microsoft released an update for it on Tuesday to address a Windows COM+ Event System Service elevation of privilege vulnerability. Microsoft confirmed it had been exploited but noted that the vulnerability had not been publicly disclosed. 

CISA has ordered federal agencies to apply fixes for both flaws by November 1. 

Security researchers with the Horizon3 Attack Team have published early indicators of compromise to help admins discover compromised devices.

Editorial standards
Wed, 12 Oct 2022 01:46:00 -0500 en text/html https://www.zdnet.com/article/fortinet-warns-that-critical-authentication-bypass-flaw-has-been-exploited/
Killexams : Why Fortinet (FTNT) Could Beat Earnings Estimates Again

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Fortinet (FTNT). This company, which is in the Zacks Security industry, shows potential for another earnings beat.

This network security company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 13.92%.

For the most latest quarter, Fortinet was expected to post earnings of $0.22 per share, but it reported $0.24 per share instead, representing a surprise of 9.09%. For the previous quarter, the consensus estimate was $0.16 per share, while it actually produced $0.19 per share, a surprise of 18.75%.

Price and EPS Surprise

For Fortinet, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Fortinet currently has an Earnings ESP of +0.31%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on November 2, 2022.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.


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Thu, 13 Oct 2022 04:38:00 -0500 en-US text/html https://finance.yahoo.com/news/why-fortinet-ftnt-could-beat-161004665.html
Killexams : Fortinet: Fairly Valued, Profitable And Growing Rapidly
Computer System Hacked. Virus Software Screen

AndreyPopov

Fortinet (NASDAQ:FTNT) is a cybersecurity powerhouse that is a leader in firewalls. According to Check Point Research, global cybersecurity attacks have increased by 32% year over year, with over 1,200 attacks per week globally. The rise of remote working, the cloud and Internet of Things (IoT) devices have widened the attack surface which has made networks more vulnerable to attack. Thus it's no surprise the global cybersecurity market was worth $139 billion in 2021 and is expected to grow at a rapid 13.4% compounded annual growth rate reaching $376 billion by 2029. Fortinet is poised to ride this trend as one of the largest cybersecurity companies in the industry, with best-in-class technology. The company's stock price has slid down by 29% from its all-time highs in December 2021, and the stock now looks to be fairly valued, while being profitable. In this post, I'm going to break down the company's business model, financials, and valuation, let's dive in.

Secure Business Model

The company's FortiGate Firewall solution makes up over one-third of firewall shipments globally, leaving competitors in the dust.

Fortinet firewall

Fortinet firewall (Investor Presentation 2022)

Fortinet's firewall is also rated as the number one market leader by Gartner and the platform has even won the customer choice award for 2022.

Fortinet firewall

Fortinet firewall (Gartner)

Its firewall solution offers a network security framework that offers threat prevention while also not limiting performance. Customer reviews also indicate the solution is "simple to use" and easier to set up which can be a real selling point for any digital transformation product. From the graphic below you can see the core hardware and software products are complimented by a series of security services that are sold on a subscription, which thus offers recurring revenue.

Fortinet products

Fortinet products (Investor Presentation)

Fortinet's technological success is driven by its proprietary ASIC (Application Specific Integrated Circuit) technology. This is a custom semiconductor design that enables higher performance to be achieved at a much lower cost than an off-the-shelf non-custom piece of hardware.

According to a latest survey of Chief Information Security Officers (CISOs) by Gartner, 75% of them are overwhelmed by the number of vendors and would like to consolidate with a small number of security providers. This is a large increase from 29% of CISOs in 2020. The cybersecurity industry is extremely fragmented with no one company making up over 10% market share. This offers an opportunity for Fortinet as they already have the second largest revenue, just behind Palo Alto Networks (PANW). Therefore as the industry consolidates Fortinet can offer customers its MESH platform that offers security from endpoint devices to the data center and hybrid cloud.

Fortinet

Fortinet solution (Investor presentation 2022)

Fortinet is also a Gartner Magic Quadrant leader in the software-defined WAN Edge Infrastructure. WAN stands for "Wide Area Network" and is basically the network that connects together a corporation's branch offices. The "software" part makes it much easier to scale, manage and extend this network.

Growing Financials

Fortinet generated solid financial results for the second quarter of 2022. Revenue was $1.03 billion which popped by 28.6% year over year and beat analyst estimates by $2.43 million. This growth was driven by strong product revenue of $400.7 million, which grew by a rapid 34.3% year over year, while its core platform grew revenue by 35% and extension products by 33%, which was a positive sign that its "land and expand" model is working.

Revenue

Revenue (Fortinet Q2 Earnings)

Total service revenue was $629 million, which increased by a rapid 25.2% year over year. This was driven mainly by security subscription service revenue which increased by 25% year over year to $340 million. Support service revenue also increased by a rapid 26% year over year to $289 million. Overall these revenue trends were pretty strong with diverse growth generated across the board.

Chart
Data by YCharts

If we take a step back, Billings which is the amount actually invoiced to customers and is the true "top line" for SaaS companies, also showed solid growth. Billings were $1.3 billion which increased by 36% year over year. This was driven by a strong 50% YoY increase in the number of larger customers, which transact over $1 million. This strategy of "growing upmarket" makes a lot of sense as larger customers tend to be more "sticky", have larger budgets, and more upsell opportunities. Fortinet's focus on vendor consolidation has been a key selling point that has made the platform popular with CISOs (Chief Information Security Officers). Service billings also accelerated with a 36% increase year over year. This was driven by pricing actions that offset headwinds from Russian services that had been halted.

Another great indicator to analyze with SaaS companies is "Bookings", this is a forward-looking metric that indicates the value of contracts signed by a customer. In this case, Bookings were $1.376 billion in the second quarter of 2022, which increased by 42% year over year. This was driven by strong Secure SD-WAN bookings which increased by 60% year over year, as the IT industry begins to converge networking and security together. The company also scored a larger number of global 2000 companies, which increased by 65% year over year.

Bookings

Bookings (Q2 Earnings Report)

Total Backlog which is the "unbilled" portion of the contract value was $350 million, which increased by $72 million and represented strong product demand. This was mainly driven by networking equipment, which made up ~50%, while FortiGates made up 40%. The track record shows this backlog is extremely strong and "sticky". Fortinet's, current customers make up over 95% of Backlog, and it is well diversified across customers. Management believes its Backlog will continue to increase in 2022, despite supply chain constraints which are making product shipping a challenge.

Backlog

Backlog (Q2 Earnings Report)

Fortinet is extremely diversified across various customer categories. For instance, larger enterprises make up 40% of its customer base which is the "safest" and most lucrative customer type, due to the aforementioned reasons. By geography, over 100 countries make up 47% of revenue, followed by 28% for the US. This is especially important given the increasing geopolitical uncertainty, driven by the Russia-Ukraine war. Its Industry diversification is also strong with its service being most popular by worldwide governments at 16% and "other industries" at 39%.

Customer Type

Customer Type (Q2 Report)

Moving onto profitability, Fortinet is solidly profitable with a GAAP operating margin of 19% and income of $147.5 million in Q2,22, which is fantastic. This is in sharp contrast to many other cybersecurity companies out there such as SentinelOne (S) which is unprofitable. Fortinet generated solid earnings per share of $0.21 in the second quarter, which beat analyst estimates by $0.05.

Chart
Data by YCharts

Fortinet also generated strong free cash flow of $283.5 million in Q2,22, although it was down from the $394.7 million generated in the prior year. This was driven by an increase in Days Sales Outstanding (DSO) to 14 days, this indicates the company is experiencing delays on its payments. This can be attributed to the timing of inventory deliveries from various contract manufacturers. The new R&D capitalization rules have impacted many businesses across the board and have caused a tax increase of between $85 million and $110 million for Fortinet.

The good news is Fortinet has a robust balance sheet with $1.755 billion in cash and short-term investments. In addition, the business has long-term debt of $984.9 million. In the six months ending on June 30th, 2022, Fortinet bought back over 25.8 million shares of stock at an average price of ~$57.82 per share, for approximately $1.49 billion. Management has also authorized a $1 billion increase in its share repurchase program.

Advanced Valuation

In order to value Fortinet, I have plugged the latest financials into my advanced valuation model which uses the discounted cash flow method of valuation. I have forecasted a 24% compounded annual growth rate on its revenue over the next 5 years, based on analyst estimates.

Fortinet stock valuation

Fortinet stock valuation (created by author Ben at Motivation 2 Invest)

I have forecasted the business's margin to increase to 27% over the next 8 years, as the company continues to upsell products and offer its high-margin security software solution. It should be noted that this margin includes an adjustment for R&D expenses which I have capitalized. Thus the reported base margin is actually 19% as mentioned prior and I expect this to increase to ~23%.

Fortinet stock valuation 2

Fortinet stock valuation 2 (created by author Ben at Motivation 2 Invest)

Given these factors I get a fair value of $48.81 per share, the stock is trading at $51 per share and thus is "fairly valued" in my eyes, given the strong profitability of the business.

As an extra data point, Fortinet trades at a Price to Earnings ratio = 48, which is fairly high but this is ~1% cheaper than its 5-year average.

Chart
Data by YCharts

Relative to other cybersecurity companies, Fortinet trades at a mid-range price-to-sales ratio = 9.2. For example, Palo Alto Networks is slightly cheaper with a PS ratio = 7.4.

Chart
Data by YCharts

Risks

Recession/Longer deal cycles

The high inflation and rising interest rate environment have caused many analysts to forecast a recession. Therefore I expect purchasing deals to take longer to close, as IT security teams delay new spending. The good news is Fortinet has increasingly focused on the Return on Investment (ROI) of its service and they even have an ROI calculator on its website. Thus longer term, the value proposition is still strong for businesses.

Competition

There are many competitors in the Cybersecurity industry. Top competitors according to Gartner include; Palo Alto Networks, Juniper (JNPR), Cisco (CSCO), Forcepoint, F5 (FFIV) and more. However, Fortinet has the highest-rated network firewall platform as mentioned prior.

Final Thoughts

Fortinet is a leading cybersecurity company that dominates the firewall industry. The company has expanded its product range and is now poised to benefit from trends such as industry growth and vendor consolidation. The stock is fairly valued, profitable, and growing steadily, thus this looks to be a great investment for the long term.

Tue, 04 Oct 2022 11:16:00 -0500 en text/html https://seekingalpha.com/article/4544696-fortinet-fairly-valued-profitable-and-growing-rapidly
Killexams : Fortinet authentication bypass flaw being exploited in the wild

An authentication bypass flaw in security firm Fortinet's products, which was patched on 6 October, is being exploited in the wild, the company has confirmed.

It said CVE-2022-40684 was an authentication bypass on the administrative interface that enables remote threat actors to log into FortiGate firewalls, FortiProxy Web proxies, and FortiSwitch Manager on-premise management instances.

The advisory issued by Fortinet said an attacker who exploited the flaw would be able to execute unauthorised code or commands.

"Fortinet is aware of an instance where this vulnerability was exploited, and recommends immediately validating your systems against the following indicator of compromise in the device's logs: user="Local_Process_Access"," the advisory said.

Well-known British security guru Kevin Beaumont said the flaw was a zero day. "They're not saying zero day... but it was actively exploited before they knew about it – it's a zero day," he added.

Claire Tills, senior research engineer at Tenable, told iTWire: "Last week, news began to circulate in ever larger circles that Fortinet was privately alerting customers to a critical vulnerability impacting its core operating system and some of its products, potentially to deliver customers a headstart in patching before going public with more information that could be used by malicious actors.

"There was significant speculation surrounding the flaw in the vacuum of official, public details from Fortinet.

“By Monday, Fortinet had publicly disclosed the vulnerability and provided additional details, including confirmation that it has been exploited in attacks.

"Now that Fortinet has confirmed this flaw has been exploited, and given threat actors’ penchant for targeting older FortiOS vulnerabilities, organisations should urgently apply the patches.

"As more details about the vulnerability come to light, the higher the likelihood that threat actors will adopt the flaw into their attacks.”

caitlin condonUpdate, 13 October: Caitlin Condon [right], senior manager, Vulnerability Research at sec outfit Rapid7, said: "The vulnerability in question (CVE-2022-40684) allows remote attackers to bypass authentication and log into the administrative interface of certain Fortinet products, which in turn enables all sorts of nefarious deeds.

"That's pretty much a worst-case scenario for security teams who rely on the affected devices (firewalls, web proxies, switch management platforms) to keep attackers out. While details are still a little fuzzy on when or how many attackers exploited this vulnerability prior to publication, Fortinet has now clearly indicated that it has been used in the wild—the implication being that it was used in a zero-day attack.

"Fortinet devices frequently sit at the edge of organisations’ networks, which makes them high-value targets. This vulnerability is likely to be exploited quickly and at scale, particularly for organisations that expose their management interfaces to the public Internet.

"History contains a lesson here. CVE-2018-13379, an information disclosure vuln in Fortinet's SSL VPN web portal from several years back, was one of the most prolifically exploited vulnerabilities in latest memory. Compromised credentials from those attacks were used for years to gain access to devices whose passwords weren't changed. Attackers who gain access to devices with CVE-2022-40684 may be similarly able to persist in victim environments by conducting administrative operations undetected.

"To be clear, this isn't a concern about the security of Fortinet products in general; it's a very specific risk posed by a critical bug that, from what we can see, was discovered, fixed, and communicated with appropriate urgency when exploitation was detected in the wild.

"Fortinet devices are hugely popular, and as researchers have been quick to point out the past few days, they're also pretty darn easy to identify on the Internet. A quick Internet survey by our Labs team identified well over a million devices running FortiOS. While certainly not all of those are exposed management interfaces, that number is a solid indicator of Fortinet devices' popularity—for attackers as well as legitimate users.

"Since the vulnerability was used in the wild before details were available, it's likely that initial exploitation was targeted. It's unlikely that it will stay targeted, as attackers and researchers have more time to reverse engineer the patch and develop exploits.

"Advanced threat actors may have specific motivations for targeting specific organisations, but we'll typically also see plenty of adversaries who are purely opportunistic, particularly when there's an easily discoverable target population. I won't speculate on who specifically is using CVE-2022-40684 (or to what ends) without solid data that we can validate ourselves."

Tue, 11 Oct 2022 22:50:00 -0500 en-gb text/html https://itwire.com/business-it-news/security/fortinet-authentication-bypass-flaw-being-exploited-in-the-wild.html
Killexams : Asperitas and Cast Software partner to accelerate cloud migrations

Did you miss a session from MetaBeat 2022? Head over to the on-demand library for all of our featured sessions here.


In theory, migrating apps to the cloud should be as simple as installing existing apps on virtual machines (VMs) running in an Amazon data center. It is a bit more challenging in practice, owing to the configuration settings used to set up these applications. There can be significant differences in how apps are configured on private enterprise servers compared with VMs in the cloud. 

More importantly, enterprises can get the most mileage from a simple migration by tuning configuration settings for the cloud. This helps cloud apps, even those just running on cloud hardware, take advantage of features like scalability and dynamic provisioning. But it is often a complicated and manual process. 

Asperitas, a cloud services company, and Cast Software, which makes software intelligence tools, have partnered to automate this process. Asperitas has an established Application Modernization Framework to help enterprises inventory existing apps and migrate them to the cloud. Meanwhile, Cast has been developing tools like Cast Highlight and Cast Imaging for analyzing software infrastructure at scale. 

Asperitas specialists will use Cast Highlight to determine an app’s cloud-readiness, open-source risk and agility. This will allow enterprises to prioritize the order in which they move apps to the cloud based on readiness and value to the company. 

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What is cloud-readiness?

Legacy applications were written to run on physical enterprise servers. As a result, they miss out on dynamic scaling features built into the cloud. Failing to take advantage of these features also eliminates many cost benefits and the ability to handle spikes in demand. 

In addition, legacy apps are often configured with relatively static configuration settings. They are written with specific on-premises environments in mind that rarely change. This impedes modern cloud development practices, which include creating new test environments for functional, performance and security testing, and then destroying them when no longer needed. 

Derek Ashmore, application transformation principal at Asperitas, told VentureBeat, “Both of these problems, and there are many more, can be traced back to how the application is written.”

Finding a needle in a configuration stack

Source-code analysis tools like Cast Highlight can automatically identify these kinds of issues at scale. Without tooling, this type of code analysis is done by hand, which takes time and labor. 

“Additionally, it’s not as accurate and is subject to human error,” Ashmore said. 

The tool can also guide customers from an application portfolio perspective. Asperitas uses Cast Highlight to help customers determine which applications to move to the cloud first. It can also identify applications that are likely to require more refactoring and will take more time. And sometimes, it finds applications that are so anti-cloud-native, they need to be rewritten. 

“We’re now better able to guide customers holistically at an application portfolio level as a result of the Cast partnership,” Ashmore explained. “While we could provide some guidance before the partnership, the breadth and depth of that guidance has greatly improved.”

Asperitas has already worked with Cast to help a large financial institution formulate its application modernization efforts. It also uses Cast to help application developers identify specific code changes to make apps cloud-native. 

Software intelligence is getting smarter

Cast has several competitors doing static code analysis, such as Veracode, Checkmarx and Fortinet. Many tend to focus on general code quality and complexity. Ashmore does not feel they are as focused on preparing applications for the cloud.

Companies have been analyzing software codebases to calculate complexity and plan software engineering projects for decades. But now software intelligence is starting to support new capabilities thanks to artificial intelligence (AI), machine learning and big data innovations.

“Software analytics will exponentially Strengthen from where it is today as artificial intelligence is increasingly used,” Ashmore said. “With that improvement will come higher quality information about applications and their limitations and vulnerabilities. I also believe that analytics will Strengthen from a security perspective and make it easier to catch vulnerabilities earlier in the development process.”

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.

Thu, 13 Oct 2022 08:00:00 -0500 George Lawton en-US text/html https://venturebeat.com/programming-development/asperitas-and-cast-software-partner-to-accelerate-cloud-migrations/
Killexams : Fortinet (FTNT) Dips More Than Broader Markets: What You Should Know

Fortinet (FTNT) closed the most latest trading day at $48.21, moving -0.76% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.

Prior to today's trading, shares of the network security company had lost 6.34% over the past month. This has was narrower than the Computer and Technology sector's loss of 14.71% and the S&P 500's loss of 11.67% in that time.

Investors will be hoping for strength from Fortinet as it approaches its next earnings release, which is expected to be November 2, 2022. On that day, Fortinet is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 35%. Our most latest consensus estimate is calling for quarterly revenue of $1.12 billion, up 29.48% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.05 per share and revenue of $4.38 billion. These totals would mark changes of +31.25% and +31.06%, respectively, from last year.

Investors might also notice latest changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% higher. Fortinet is currently sporting a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Fortinet is holding a Forward P/E ratio of 46.39. For comparison, its industry has an average Forward P/E of 42.22, which means Fortinet is trading at a premium to the group.

It is also worth noting that FTNT currently has a PEG ratio of 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FTNT's industry had an average PEG ratio of 2.32 as of yesterday's close.

The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Wed, 12 Oct 2022 21:35:00 -0500 en-US text/html https://finance.yahoo.com/news/fortinet-ftnt-dips-more-broader-215009026.html
Killexams : Cybersecurity Week 2022

Cybersecurity Week 2022

Cybersecurity has become one of the hottest sectors within IT, with investors pumping billions of dollars into security startups in the hopes of producing the next big cybersecurity product.

Meanwhile, major vendors -- including Sophos, Palo Alto, Fortinet, Check Point and Crowdstrike -- keep expanding and hiring at a faster clip than the rest of the IT world.

Ultimately, all the investments and R&D and hirings are driven by hackers trying to break into systems to steal information, blackmail organizations or just wreak havoc with operations. The escalating number and severity of attacks has gotten the attention of the political establishment in America -- and new security-related laws and rules are being implemented seemingly every week.

CRN Cybersecurity Week 2022 will look at a number of issues, trends and products in this key technology sector.

10 Cybersecurity Threats That Should Be Top Of Mind For All Companies
From hybrid attacks to fake LinkedIn phishing emails, experts outline what they consider some of the major and emerging cybersecurity threats.

12 Cool Cybersecurity Products And Services In 2022
From Huntress’s EDR offering to the new Tenable One platform, cybersecurity companies, both big and small, are churning out new products to meet escalating demand.

10 Hot Cybersecurity Certifications In 2022
As the demand for skilled cybersecurity workers rises and evolves, so do certification offerings.

10 Hot Cyber Threat Intelligence Tools And Services In 2022
From Sophos’s ‘X-Ops’ To Blackcloak’s ‘Honeypot’ offering, firms are providing more proactive intelligence offerings to combat increasing cyberthreats.

Here Are 6 Hot Browser Security Startups In 2022
Some startups are developing new ‘enterprise browsers,’ which build upon open-source code, while others are adamantly anti-enterprise browsers, saying there’s no need to develop entirely new ones. CRN looks at what six hot startups are doing in the browser security space.

Mon, 03 Oct 2022 06:23:00 -0500 en text/html https://www.crn.com/cybersecurity-week-2022
Killexams : Why Fortinet Stock Outpaced the Market on Monday

What happened

IT network security stock Fortinet (FTNT -2.17%) looked relatively secure on Monday. The company's shares fell on the day, but by less than 0.5% -- a less steep slide than the nearly 0.8% decline of the broad S&P 500 index. A positive new research note from a prominent investment bank -- complete with an upgrade and price target lift -- was a key reason why.  

So what

Morgan Stanley's Hamza Fodderwala feels that Fortinet is underappreciated by the market, and consequently has upgraded his recommendation on the stock from equal weight to overweight (from neutral to buy, in other words). He also gave its price target a modest bump: He now believes shares of the cybersecurity company will hit $69 within the next year, up from his previous target of $66.

In Fodderwala's view, demand for IT security solutions "remains durable" even in this rather shaky macroeconomic environment, in which many individuals and companies are concerned about inflation and growth.

The analyst believes that Fortinet will continue to grow organically and increase market share as the total addressable market for its services rises. That view was bolstered by his latest checks of the company, which reveal an increasing backlog and revisions for 2023.

Now what

Fodderwala thinks Fortinet is capable of sustaining its momentum for several years. The company is operating from a low base, as by his estimation it has only 5% revenue penetration. This should, he thinks, allow it to deliver compound annual revenue growth of at least 20% over the next five years.

Eric Volkman 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.

Mon, 10 Oct 2022 23:58:00 -0500 Eric Volkman en text/html https://www.fool.com/investing/2022/10/10/why-fortinet-stock-outpaced-the-market-on-monday/
Killexams : Fortinet: Far From Being Undervalued - Stay On The Sidelines
Fortinet Headquarters

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Thesis

Leading cybersecurity company Fortinet, Inc. (NASDAQ:FTNT) has been a solid investment for investors over the past ten years, with a 10Y total return CAGR of 26.7%. Notably, the stock has been a massive winner for investors who grabbed it early in the 2020 COVID bottom, with gains that reached over 430% through its December 2021 highs.

We managed to get on board in September 2020 and rode it toward its December 2021 highs, but we have since pared most of our positions in early 2022. We postulate that Fortinet's underlying thesis remains intact. But, with a slowing growth cadence moving ahead, we are not convinced its valuations are sustainable at the levels in early 2022.

FTNT has also been battered in the tech bear market, as the market sent it falling by more than 36% through its latest lows. Hence, we believe investors could be considering buying the dips in FTNT to ride on the next uptrend when the market recovers.

However, we urge investors to be cautious, as we don't think the digestion in FTNT is near completion. Therefore, adding at the current levels could lead to market underperformance moving ahead, despite its robust growth drivers.

As such, we rate FTNT as a Hold for now and urge investors to wait on the sidelines.

Fortinet's Growth Could Peak in 2022

Fortinet Billings change %

Fortinet Billings change % (Company filings)

As seen above, Fortinet has leveraged an enlarged TAM in its network security leadership by tapping robust growth drivers in the broader cybersecurity space, including in the cloud. Hence, it has been growing faster than the estimates of its TAM expansion (10% CAGR), suggesting that Fortinet has been gaining share against its peers.

However, its billings growth has likely peaked in Q3'21, which is also consistent with FTNT's December 2021 highs. Furthermore, management's FY22 billings guidance suggests that growth in H2'22 is expected to slow further, down to 32.1% in FQ3 and 32.5% in FQ4. Hence, even management's guidance indicates that investors need to expect growth normalization moving forward.

Fortinet Revenue change % and Adjusted EBIT change % consensus estimates (By FY)

Fortinet Revenue change % and Adjusted EBIT change % consensus estimates (By FY) (S&P Cap IQ)

As seen above, even the bullish consensus estimates indicate that Fortinet's growth could have peaked in FY22 before moderating further through FY25.

We believe the estimates are credible, given the guidance in its billings growth. Also, management telegraphed an FY25 model of $8B in revenue. Therefore, investors need to be wary about projecting higher growth estimates than what management has suggested.

Notwithstanding, bullish investors could argue that cybersecurity solutions are non-cyclical and should be impacted less significantly by the looming economic recession.

However, we urge investors to be more cautious in making that assumption. Instead, we encourage investors to pay close attention to whether the company expects enterprise spending to moderate further, impacting its near-term growth momentum.

FTNT Is Not Undervalued

FTNT NTM EBITDA multiples valuation trend

FTNT NTM EBITDA multiples valuation trend (koyfin)

FTNT has fallen markedly from the overvaluation zones in December 2021 as the market justifiably digested its rapid surge from March 2020.

However, we postulate that FTNT seems far from being considered undervalued, even as we move closer to a global recession. Therefore, coupled with potentially peak growth in FY22, we urge investors to be cautious about adding FTNT at the current levels.

Accordingly, we consider FTNT's valuation as well-balanced at best.

Is FTNT Stock A Buy, Sell, Or Hold?

FTNT price chart (monthly)

FTNT price chart (monthly) (TradingView)

FTNT's long-term chart also indicates that investors need to be cautious about considering adding more positions at the current levels.

We assess that its rapid surge from March 2020 is still being digested by the market, with the distribution phase still in action through September 2022 from its December 2021 highs.

We assess that the distribution phase could find a sustained consolidation phase in the gap between its near-term and long-term support. However, it's still too early to determine where the likely zone could be.

However, we will be watching whether FTNT can sustain its long-term uptrend above its 50-month moving average (blue line). Losing that support level could spell more pain toward its long-term support.

FTNT price chart (weekly)

FTNT price chart (weekly) (TradingView)

Poring through FTNT's medium-term chart corroborates our view that the digestion is ongoing, as it had already lost its medium-term bullish bias.

Therefore, we urge investors to be patient. We have yet to glean any capitulation price action that could suggest investors have been forced to flee in a panic, de-risking the entry levels for less aggressive buy zones.

We rate FTNT as a Hold for now.

Mon, 10 Oct 2022 00:30:00 -0500 en text/html https://seekingalpha.com/article/4545609-fortinet-far-from-being-undervalued-stay-on-the-sidelines
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