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Fortinet (FTNT) Enhances SASE to Securely Connect Users & Apps
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Fortinet (FTNT - Free Report) announced the expansion of its Universal Secure Access Service Edge (SASE) solution to support the modern hybrid workforce, offering FortiOS across the board.
While many enterprises use multiple vendors for different SASE functions, Fortinet's Universal SASE offers a unified approach with consistent policies both on-premises and in the cloud, streamlining support for today's hybrid workforce and reducing IT overhead.
FortiOS encompasses the entire SASE stack, including firewall, SD-WAN, secure web gateway, encryption/decryption, CASB, DLP and ZTNA. It can operate on an appliance in accelerated mode or the FortiSASE cloud, ensuring consistent networking, security and policy management across all edges.
FTNT is expanding its commitment to Universal SASE with significant developments in three key areas. Firstly, it is extending the global coverage of its FortiSASE cloud network to more than 100 locations worldwide. Secondly, the introduction of the FortiGate 120G SASE appliance, powered by the company's SP5 custom ASIC, accelerates various SASE components. Lastly, the flexible consumption program, FortiFlex, now encompasses Universal SASE solutions.
Fortinet Faces Tough Competition in the SASE Market
SASE is a network framework that integrates VPN and SD-WAN features with cloud-based security functions like secure web gateways, cloud access security brokers, firewalls and zero-trust network access. These services are cloud-delivered and offered as a service by the SASE provider.
According to a Research and Markets report, the global SASE market size is projected to reach $5.9 billion by 2028 from $1.9 billion in 2023, at a Compound Annual Growth Rate of 25% during the forecast period.
Shares of Fortinet have gained 14.4% in the past year compared with the Zacks Computer and Technology sector’s rise of 34.5% due to tough competition from Cisco Systems (CSCO - Free Report) and Palo Alto Networks (PANW - Free Report) in the SASE market.
Cisco Umbrella offers a solution to simplify and streamline cloud-delivered security, supporting the transition to an SSE or SASE architecture. With the increasing connectivity needs of hybrid workforces accessing cloud and SaaS applications, the traditional data center security model can become burdensome, leading to reduced productivity.
Palo Alto Networks is a leading player in the SASE arena, known for its effective use of artificial intelligence. The company enhances the security of its clients, automates operational tasks and expedites the transformation of branch networks. PANW offers two SASE solutions, Prisma Access and Prisma SD-WAN.
Fortinet recently expanded its SASE Points-of-Presence by partnering with Alphabet’s (GOOGL - Free Report) Google Cloud, leveraging Google's global network edge locations near FTNT's regional presence to ensure reliable interconnectivity and high service availability. This collaboration enhances the growth of the company's Universal SASE solution, which is adopted by organizations seeking to securely connect their hybrid workforces. This is expected to boost FTNT’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for this Zacks Rank #3 (Hold) company’s 2023 revenues is pegged at $5.4 billion, indicating year-over-year growth of 22.2%. The Zacks Consensus Estimate for earnings is pegged at $1.51 per share, indicating a year-over-year increase of 26.89%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Fortinet (FTNT) Enhances SASE to Securely Connect Users & Apps
Fortinet (FTNT - Free Report) announced the expansion of its Universal Secure Access Service Edge (SASE) solution to support the modern hybrid workforce, offering FortiOS across the board.
While many enterprises use multiple vendors for different SASE functions, Fortinet's Universal SASE offers a unified approach with consistent policies both on-premises and in the cloud, streamlining support for today's hybrid workforce and reducing IT overhead.
FortiOS encompasses the entire SASE stack, including firewall, SD-WAN, secure web gateway, encryption/decryption, CASB, DLP and ZTNA. It can operate on an appliance in accelerated mode or the FortiSASE cloud, ensuring consistent networking, security and policy management across all edges.
FTNT is expanding its commitment to Universal SASE with significant developments in three key areas. Firstly, it is extending the global coverage of its FortiSASE cloud network to more than 100 locations worldwide. Secondly, the introduction of the FortiGate 120G SASE appliance, powered by the company's SP5 custom ASIC, accelerates various SASE components. Lastly, the flexible consumption program, FortiFlex, now encompasses Universal SASE solutions.
Fortinet, Inc. Price and Consensus
Fortinet, Inc. price-consensus-chart | Fortinet, Inc. Quote
Fortinet Faces Tough Competition in the SASE Market
SASE is a network framework that integrates VPN and SD-WAN features with cloud-based security functions like secure web gateways, cloud access security brokers, firewalls and zero-trust network access. These services are cloud-delivered and offered as a service by the SASE provider.
According to a Research and Markets report, the global SASE market size is projected to reach $5.9 billion by 2028 from $1.9 billion in 2023, at a Compound Annual Growth Rate of 25% during the forecast period.
Shares of Fortinet have gained 14.4% in the past year compared with the Zacks Computer and Technology sector’s rise of 34.5% due to tough competition from Cisco Systems (CSCO - Free Report) and Palo Alto Networks (PANW - Free Report) in the SASE market.
Cisco Umbrella offers a solution to simplify and streamline cloud-delivered security, supporting the transition to an SSE or SASE architecture. With the increasing connectivity needs of hybrid workforces accessing cloud and SaaS applications, the traditional data center security model can become burdensome, leading to reduced productivity.
Palo Alto Networks is a leading player in the SASE arena, known for its effective use of artificial intelligence. The company enhances the security of its clients, automates operational tasks and expedites the transformation of branch networks. PANW offers two SASE solutions, Prisma Access and Prisma SD-WAN.
Fortinet recently expanded its SASE Points-of-Presence by partnering with Alphabet’s (GOOGL - Free Report) Google Cloud, leveraging Google's global network edge locations near FTNT's regional presence to ensure reliable interconnectivity and high service availability. This collaboration enhances the growth of the company's Universal SASE solution, which is adopted by organizations seeking to securely connect their hybrid workforces. This is expected to boost FTNT’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for this Zacks Rank #3 (Hold) company’s 2023 revenues is pegged at $5.4 billion, indicating year-over-year growth of 22.2%. The Zacks Consensus Estimate for earnings is pegged at $1.51 per share, indicating a year-over-year increase of 26.89%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.