Fortinet aims to train 1 million in cybersecurity, stock up 32.3% - positive.

From Nasdaq: 2024-09-30 11:28:00

Fortinet is tackling the cybersecurity skills gap by training 1 million people in cybersecurity by 2026 through its Training Institute programs. The company’s stock has surged 32.3% year-to-date, outpacing the tech sector. Fortinet’s strategic positioning and innovative approach position it for growth in the $500.7 billion cybersecurity market by 2030.

Fortinet’s training initiatives address the growing demand for skilled professionals in the cybersecurity industry. By investing in talent development, the company may improve operational efficiencies by reducing hiring costs and time-to-productivity for new employees. Fortinet’s broad product portfolio and expertise in areas like AI-powered solutions position it well for expansion and revenue growth.

The company’s impressive financial projections for 2024 include revenues between $5.8 billion and $5.9 billion, a non-GAAP operating margin of 30-31.5%, and non-GAAP earnings per share between $2.13 and $2.19. While facing tough competition from industry giants and boasting a premium valuation compared to industry averages, Fortinet’s strategic initiatives and market leadership make it a compelling investment opportunity.

With a Zacks Rank #1 (Strong Buy), Fortinet’s strong financials and initiatives to address industry-wide challenges indicate potential for long-term growth. As the cybersecurity sector continues to evolve, Fortinet is poised to drive growth and reward investors who recognize this opportunity early. Consider Fortinet as a promising investment in the expanding cybersecurity market.



Read more at Nasdaq: Fortinet Cyber Skills Program on Track: Time to Buy the Stock Now?