Fortinet (FTNT) Upgrades Its Core OS With FortiOS 7.2 Launch

Fortinet FTNT upgraded its flagship operating systems with a new version — FortiOS 7.2 — which comes with more than 300 latest features, enhancing Fortinet's ability to converge networking and security.

FortiOS 7.2 enables organizations to deploy the Fortinet Security Fabric platform to every edge, allowing security to dynamically scale and adapt as the network evolves. The expansive, integrated solution enables the delivery of AI-powered automation, which correlates intelligence from across the network and global threat feeds to rapidly detect sophisticated threats and respond in real-time.

The latest launch will enable Fortinet to reach new industry standards for converged networking and security. FortiOS 7.2’s new inline sandbox service transforms traditional detection sandbox capability into real-time in-network prevention to stop both known and unknown malware with minimal impact on operations.

Currently available, FortiOS 7.2 delivers new AI-powered FortiGuard security services and offers enhancements across Fortinet's entire portfolio of network, endpoint and cloud solutions that further consolidate security point products into a single broad, integrated and automated platform.

Fortinet, Inc. Price and Consensus

Fortinet, Inc. price-consensus-chart | Fortinet, Inc. Quote

The latest upgrade also enables organizations to develop a robust cybersecurity environment that includes investments in other security technologies.

Fortinet is benefiting from the rising demand for security and networking products amid the coronavirus-led crisis, as a huge global workforce is working remotely.

In the fourth quarter of 2021, Fortinet’s Product revenues jumped 31.4% year over year to $378.9 million. The uptick was supported by the continued adoption of the FortiGate-based secure SD-WAN solution, strong revenues at non-FortiGate products and increased demand for integrated security fabric products.

In October 2021, Verizon Business added FTNT’s Secure SD-WAN to its global SD-WAN offerings to provide secured connectivity for hybrid and remote workforces. In April 2021, British multinational telecommunications holding company, BT Group, launched a managed secure SD-WAN service powered by Fortinet.

Zacks Rank & Key Picks

Fortinet currently carries a Zacks Rank #3 (Hold). Shares of FTNT have surged 81.3% in the past year.

Some better-ranked stocks from the broader computer and technology sector are Arrow Electronics ARW, currently sporting a Zacks Rank #1 (Strong Buy), Axcelis Technologies ACLS and Analog Devices ADI, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Arrow Electronics’ first-quarter 2022 earnings has been revised upward by 28.7% to $4.53 per share over the past 60 days. For 2022, Arrow Electronics’ earnings estimates have moved north by 18.8% to $18.48 per share in the past 60 days.

ARW’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 19%. Shares of Arrow Electronics have gained 3.2% in the past year.

The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised upward by 5 cents to 92 cents per share over the past 60 days. For 2022, Axcelis’ earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.

Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have risen 46.6% in the past year.

The Zacks Consensus Estimate for Analog Devices’ second-quarter fiscal 2022 earnings has been revised upward by 23 cents to $2.08 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 79 cents to $8.32 per share in the past 60 days.

Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have climbed 0.6% in the past year.

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