Atleast this time, Apple is giving some warning. But is Fortinet doing something to not have this happen again??
I like FTNT. The valuation is way too high. Right now I am waiting for the valuation to come back in before I would buy.
doughav and sncjoff1. Since you 2 have no clue. The Fortinet Devices are installed at each store and on the head end. Fortinet's own Pro Services did the installation. I have my FACTS. You 2 need to do your home work.
Anyone using a Symantec branch security device would be foolish.
If you 2 are sticking up for Symantec, then you're saying that Symantec's fell down on the floor?
doughav, This is not a Lie dude. Symantec is not a Enterprise Firewall. What do you think is at every Home Depot Store and at the Head end? You might want to check your facts. I'm someone who is in the know.
This is a BLATANT,.. LIE !!
Symantac's,.. OLD 2007 "crap" ,.. WAS USED !!
No Encryption used,.. cover YOUR,.. "SHORT",.. POSITION !!
This HOT NEWS should make you think about the buying into Fortinet. Fortinet has a Great Sales Pitch, and the products look attractive. BUT you all need to know the Truth. Just recently Home Depot reported a Security Breach. 60 Million records, more records than what Target had to deal with. Well, here's the news. Fortinet Supplied ALL the FortiGates for Home Depot. The Fortinet Devices reside at each store and in main HQ. What makes this even more amusing, is that Fortinet's own Professional Services did the installation at Home Depot. The main flaw in any security is as follows:
1- The failure of the Product
2- The failure of the Design and install
3- The failure of the monitoring
Home Depot is a Major Name plate for Fortinet. I guess the Swiss army knife of products is not the way to go.
Although Cramer had expressed skepticism about FireEye in the past, in part because after its IPO the stock surged, Cramer now believes the dust has settled and fundamentals will begin to matter. "And in reality, this company is a leading player in malware protection," Cramer said.
"FireEye has a broad portfolio of network security products, with lots of exposure to the fast growing threat intelligence market. And the fact is, the company's growing like a weed: in the last two quarters its revenues increased by 184 percent and 160 percent year over year respectively. The stock trades roughly in-line with its peer group despite a much faster growth rate. FireEye's risky, it's not yet profitable, and I'd only recommend it for speculation, but if you do feel like speculating it's definitely worth thinking about," Cramer said.
Cramer said unlike the other stocks listed above, Symantec is more of a value play, trading at just 12 times next year's earnings estimates.
"The company has lagged the industry for years, but back in March Symantec fired its CEO, and its now undergoing a reorganization to try to turn around its business. If the turn works, then I think this stock could go much higher."
Sentiment: Strong Buy
With Home Depot, Target and Jennifer Lawrence all victims of recent hack attacks, Jim Cramer thinks the need for cybersecurity is growing by the minute.
"Last year, the global security technology and services market was worth $67 billion; by 2016 it should be worth $86 billion," Cramer said.
However, not all cyber-security stocks are equally attractive.
"So, with that in mind, I want to revisit my favorite cybersecurity names so that you know how to play this powerful long-term trend."
"My second favorite player here, and a stock that's far cheaper on an earnings basis, is Fortinet," Cramer said.
Largely, Cramer says the company is actively expanding its customer base, no longer servicing just small and mid-size firms, but now, also winning some big clients, too. "That's a big deal because large companies have more money to spend on network security," Cramer said. "In turn, winning these bigger contracts has allowed Fortinet's billings growth to accelerate in each of its last six quarters, with billings up 33 percent year over year in the latest quarter and enterprise deals up a staggering 95 percent."
Due to the strength Cramer is looking for the Street to raise estimates, which, in turn, should bode well for shareholders. "I could easily see this $26 and change stock breaking out above $30 in the not too distant future, and again, I'm a buyer into weakness."
Sentiment: Strong Buy