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Fortinet (FTNT) Becomes Cybersecurity Partner for Juventus
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Fortinet (FTNT - Free Report) recently announced a new partnership with Juventus Football Club. Under this sponsorship agreement, Fortinet will become Juventus’ Official Cybersecurity Partner for the next two seasons through 2026.
Juventus, based in Turin, Italy, is known for its sustainability efforts and its Allianz Stadium, which serves as a major entertainment and tourist venue. Fortinet’s solutions will be implemented across several key locations in the Continassa area, including the Juventus headquarters, Allianz Stadium data center, J|hotel, J|medical and the First Team Training Center — JTC Continassa.
FTNT’s Security Fabric platform, with its ability to merge networking and security functions, was pivotal in Juventus’ decision to collaborate with Fortinet. The platform will aid Juventus by consolidating disparate security tools, enhancing visibility, boosting performance and reducing incident response times.
As part of the agreement, Juventus will also implement a central FortiGate Next-Generation Firewall cluster to manage their network equipment. Additionally, the integration of FortiManager and FortiAnalyzer will provide Juventus with a unified management interface, offering comprehensive control, visibility and analytics across their entire network environment.
Fortinet’s Recent Advancements Aid Long-Term Growth Prospect
Fortinet has been chosen by Juventus as a cybersecurity partner, which builds upon the latest advancements of the company. These advancements include enhancements to its platform and the acquisition of Next DLP and Lacework, which are expected to aid long-term prospects of the company.
FTNT recently expanded its capabilities by acquiring Next DLP, a prominent player in insider risk and data protection. This acquisition will bolster Fortinet's position in the standalone enterprise data loss prevention (DLP) market and enhance its leadership in integrated DLP solutions within endpoint and Secure Access Service Edge frameworks.
Additionally, Fortinet has made significant strides in cloud security through the acquisition of Lacework, a company known for its innovative cloud-native application protection solutions. The acquisition also brings a skilled sales team and engineering talent to Fortinet, further advancing its capacity to deliver cutting-edge solutions to customers.
Fortinet also updated its Operational Technology (OT) security platform. The latest updates enhance secure networking and security operations capabilities and expand strategic partnerships with leading OT vendors. These advancements reflect Fortinet’s ongoing commitment to securing cyber-physical systems and protecting critical infrastructure across various sectors, including energy, defense and transportation.
However, FTNT faces tough competition from companies like Cisco Systems (CSCO - Free Report) , CyberArk Software (CYBR - Free Report) and Palo Alto Networks (PANW - Free Report) in the cybersecurity market.
Fortinet’s’ strong partner base is a major positive. However, tough competition in the cybersecurity market does not bode well for the company’s prospects.
FTNT’s rich experience in the security space and continued delivery of mission-critical solutions will help it grow in the cybersecurity space. Moreover, the growing adoption of Software-Defined Wide Area Network solutions could be a key growth driver for Fortinet in the long run.
The Zacks Consensus Estimate for FTNT’s third-quarter 2024 earnings per share is pegged at 50 cents per share, which has increased 7 cents in the past 30 days. The consensus mark for 2024 earnings is pegged at $1.97 per share, which has increased 21 cents in the past 30 days.
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Fortinet (FTNT) Becomes Cybersecurity Partner for Juventus
Fortinet (FTNT - Free Report) recently announced a new partnership with Juventus Football Club. Under this sponsorship agreement, Fortinet will become Juventus’ Official Cybersecurity Partner for the next two seasons through 2026.
Juventus, based in Turin, Italy, is known for its sustainability efforts and its Allianz Stadium, which serves as a major entertainment and tourist venue. Fortinet’s solutions will be implemented across several key locations in the Continassa area, including the Juventus headquarters, Allianz Stadium data center, J|hotel, J|medical and the First Team Training Center — JTC Continassa.
FTNT’s Security Fabric platform, with its ability to merge networking and security functions, was pivotal in Juventus’ decision to collaborate with Fortinet. The platform will aid Juventus by consolidating disparate security tools, enhancing visibility, boosting performance and reducing incident response times.
As part of the agreement, Juventus will also implement a central FortiGate Next-Generation Firewall cluster to manage their network equipment. Additionally, the integration of FortiManager and FortiAnalyzer will provide Juventus with a unified management interface, offering comprehensive control, visibility and analytics across their entire network environment.
Fortinet, Inc. Price and Consensus
Fortinet, Inc. price-consensus-chart | Fortinet, Inc. Quote
Fortinet’s Recent Advancements Aid Long-Term Growth Prospect
Fortinet has been chosen by Juventus as a cybersecurity partner, which builds upon the latest advancements of the company. These advancements include enhancements to its platform and the acquisition of Next DLP and Lacework, which are expected to aid long-term prospects of the company.
FTNT recently expanded its capabilities by acquiring Next DLP, a prominent player in insider risk and data protection. This acquisition will bolster Fortinet's position in the standalone enterprise data loss prevention (DLP) market and enhance its leadership in integrated DLP solutions within endpoint and Secure Access Service Edge frameworks.
Additionally, Fortinet has made significant strides in cloud security through the acquisition of Lacework, a company known for its innovative cloud-native application protection solutions. The acquisition also brings a skilled sales team and engineering talent to Fortinet, further advancing its capacity to deliver cutting-edge solutions to customers.
Fortinet also updated its Operational Technology (OT) security platform. The latest updates enhance secure networking and security operations capabilities and expand strategic partnerships with leading OT vendors. These advancements reflect Fortinet’s ongoing commitment to securing cyber-physical systems and protecting critical infrastructure across various sectors, including energy, defense and transportation.
However, FTNT faces tough competition from companies like Cisco Systems (CSCO - Free Report) , CyberArk Software (CYBR - Free Report) and Palo Alto Networks (PANW - Free Report) in the cybersecurity market.
Shares of this Zacks Rank #2 (Buy) company have gained 29.1% year to date, outperforming the Zacks Computer and Technology sector’s growth of 22.5%. Shares of CSCO, CYBR and PANW have returned 28.1%, 24.8% and 0.6%, respectively, in the same time frame. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Conclusion
Fortinet’s’ strong partner base is a major positive. However, tough competition in the cybersecurity market does not bode well for the company’s prospects.
FTNT’s rich experience in the security space and continued delivery of mission-critical solutions will help it grow in the cybersecurity space. Moreover, the growing adoption of Software-Defined Wide Area Network solutions could be a key growth driver for Fortinet in the long run.
The Zacks Consensus Estimate for FTNT’s third-quarter 2024 earnings per share is pegged at 50 cents per share, which has increased 7 cents in the past 30 days. The consensus mark for 2024 earnings is pegged at $1.97 per share, which has increased 21 cents in the past 30 days.