Fortinet’s (FTNT - Free Report) Secure SD-WAN has been recently certified to support MEF 3.0 SD-WAN services. The certification will help provide enterprises with a benchmark to select an SD-WAN vendor.
With digital transformation taking place across all industries, more and more enterprises are moving their operations to the cloud. This, combined with the work-from-home wave, has exposed organizations to more frequent and advanced cyberattacks. The MEF certification will help fortify Fortinet’s SD-WAN solutions and make it more attractive to enterprises and service providers looking for secure and trusted solutions to meet their WAN transformation requirements.
Notably, Fortinet has actively been working with MEF to develop new SD-WAN security standards since 2017.
Competitive Scenario
Fortinet’s SD-WAN peers, including Cisco (CSCO - Free Report) , Citrix and VMware -backed VeloCloud, aren’t far behind when it comes to doing their bit to strengthen their SD-WAN offerings with enhanced security and network protection capabilities.
Notably, Cisco has partnered with cybersecurity players like Netskope and Iboss Cybersecurity to integrate their offerings with its SD-WAN platform.
Recently, Citrix partnered with Check Point Software to deploy additional next-gen firewalls within Citrix SD-WAN.
Meanwhile, VeloCloud’s partnership with Menlo Security aims to enable enterprises to optimize local internet breakouts and provides global low-latency access to the internet and critical SaaS applications.
Nonetheless, the growing adoption of its SD-WAN solutions is proving to be a key growth driver, even in a year as challenging as 2020. Moreover, Gartner predicts that 50% of new firewall purchases in the distributed network will utilize SD-WAN features by 2024, up from 20% in 2019. Being the only vendor to offer both security and SD-WAN solutions, Fortinet is well positioned to capitalize on the increasing opportunities in the market.
In the first quarter of 2020, Fortinet’s Product revenues increased 18.2% year over year to $192.3 million. Notably, this growth was driven by the continued adoption of the FortiGate-based secure SD-WAN solution.
Fortinet currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Fortinet’s (FTNT - Free Report) Secure SD-WAN has been recently certified to support MEF 3.0 SD-WAN services. The certification will help provide enterprises with a benchmark to select an SD-WAN vendor.
With digital transformation taking place across all industries, more and more enterprises are moving their operations to the cloud. This, combined with the work-from-home wave, has exposed organizations to more frequent and advanced cyberattacks. The MEF certification will help fortify Fortinet’s SD-WAN solutions and make it more attractive to enterprises and service providers looking for secure and trusted solutions to meet their WAN transformation requirements.
Notably, Fortinet has actively been working with MEF to develop new SD-WAN security standards since 2017.
Competitive Scenario
Fortinet’s SD-WAN peers, including Cisco (CSCO - Free Report) , Citrix and VMware -backed VeloCloud, aren’t far behind when it comes to doing their bit to strengthen their SD-WAN offerings with enhanced security and network protection capabilities.
Notably, Cisco has partnered with cybersecurity players like Netskope and Iboss Cybersecurity to integrate their offerings with its SD-WAN platform.
Recently, Citrix partnered with Check Point Software to deploy additional next-gen firewalls within Citrix SD-WAN.
Meanwhile, VeloCloud’s partnership with Menlo Security aims to enable enterprises to optimize local internet breakouts and provides global low-latency access to the internet and critical SaaS applications.
Nonetheless, the growing adoption of its SD-WAN solutions is proving to be a key growth driver, even in a year as challenging as 2020. Moreover, Gartner predicts that 50% of new firewall purchases in the distributed network will utilize SD-WAN features by 2024, up from 20% in 2019. Being the only vendor to offer both security and SD-WAN solutions, Fortinet is well positioned to capitalize on the increasing opportunities in the market.
In the first quarter of 2020, Fortinet’s Product revenues increased 18.2% year over year to $192.3 million. Notably, this growth was driven by the continued adoption of the FortiGate-based secure SD-WAN solution.
Fortinet currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Stocks to Soar Past the Pandemic: In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade.
See the 5 high-tech stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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