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Here's How Much a $1000 Investment in Fortinet Made 10 Years Ago Would Be Worth Today
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For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you'd invested in Fortinet (FTNT - Free Report) ten years ago? It may not have been easy to hold on to FTNT for all that time, but if you did, how much would your investment be worth today?
Fortinet's Business In-Depth
With that in mind, let's take a look at Fortinet's main business drivers.
Headquartered in Sunnyvale, CA, Fortinet, Inc. is a provider of network security appliances and Unified Threat Management (UTM) network security solutions to enterprises, service providers and government entities worldwide.
Its solutions are designed to integrate multiple levels of security protection, including firewall, virtual private networking (VPN), antivirus, intrusion prevention (IP), web filtering, anti-spam and wide area network (WAN) acceleration.
Through its products and subscription services, the company provides integrated protection against dynamic security threats while simplifying the IT security infrastructure. Its solutions incorporate application-specific integrated circuits, hardware architecture, operating system, and associated security and networking functions to defend against multiple categories of IT security attacks without impacting network performance.
The company’s network security gateways protect customer data, reduce security complexities and lower the total cost of ownership. Customers are able to implement their security policies on traffic between internal networks and the Internet, as well as between internal and private networks shared with partners.
Its flagship UTM solution consists of the FortiGate appliance product line and FortiGuard security subscription services.
Its products and services are sold through a network of more than 20,000 channel partners worldwide, including distributors, resellers, value-added resellers and managed service providers. The company caters to more than 450,000 customers worldwide that includes most of the Fortune 100 companies.
Fortinet reported revenues of $5.3 billion in 2023, which increased 20.1% from 2022. Product revenue was $1.93 billion, up 8.2% while Service revenue of $3.38 billion improved 28.1% year over year in 2023.
The company faces significant competition with Palo Alto Networks, CyberArk, Qualys and Cisco in the network security as well as cloud security space.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Fortinet a decade ago, you're probably feeling pretty good about your investment today.
A $1000 investment made in November 2014 would be worth $17,089.39, or a 1,608.94% gain, as of November 28, 2024, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
The S&P 500 rose 189.40% and the price of gold increased 117.19% over the same time frame in comparison.
Analysts are forecasting more upside for FTNT too.
Fortinet’s third-quarter results reflect strength in demand from large enterprise customers and growth in the company's security subscriptions amid a slowdown in networking products, along with challenges in sales execution and marketing efficiency. Continued deal wins, especially those of high value, are a key driver. Higher IT spending on cybersecurity is further expected to aid Fortinet in growing faster than the security market. The focus on enhancing its unified threat management (UTM) portfolio through product development and acquisitions is a tailwind. Shares of the company have outperformed the industry in the year-to-date period. However, intensifying competition due to increasing consolidation in the security industry poses concerns. Increased hiring and mergers & acquisitions spending remain overhangs on margin.
The stock is up 19.46% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 13 higher, for fiscal 2024. The consensus estimate has moved up as well.
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Here's How Much a $1000 Investment in Fortinet Made 10 Years Ago Would Be Worth Today
For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you'd invested in Fortinet (FTNT - Free Report) ten years ago? It may not have been easy to hold on to FTNT for all that time, but if you did, how much would your investment be worth today?
Fortinet's Business In-Depth
With that in mind, let's take a look at Fortinet's main business drivers.
Headquartered in Sunnyvale, CA, Fortinet, Inc. is a provider of network security appliances and Unified Threat Management (UTM) network security solutions to enterprises, service providers and government entities worldwide.
Its solutions are designed to integrate multiple levels of security protection, including firewall, virtual private networking (VPN), antivirus, intrusion prevention (IP), web filtering, anti-spam and wide area network (WAN) acceleration.
Through its products and subscription services, the company provides integrated protection against dynamic security threats while simplifying the IT security infrastructure. Its solutions incorporate application-specific integrated circuits, hardware architecture, operating system, and associated security and networking functions to defend against multiple categories of IT security attacks without impacting network performance.
The company’s network security gateways protect customer data, reduce security complexities and lower the total cost of ownership. Customers are able to implement their security policies on traffic between internal networks and the Internet, as well as between internal and private networks shared with partners.
Its flagship UTM solution consists of the FortiGate appliance product line and FortiGuard security subscription services.
Its products and services are sold through a network of more than 20,000 channel partners worldwide, including distributors, resellers, value-added resellers and managed service providers. The company caters to more than 450,000 customers worldwide that includes most of the Fortune 100 companies.
Fortinet reported revenues of $5.3 billion in 2023, which increased 20.1% from 2022. Product revenue was $1.93 billion, up 8.2% while Service revenue of $3.38 billion improved 28.1% year over year in 2023.
The company faces significant competition with Palo Alto Networks, CyberArk, Qualys and Cisco in the network security as well as cloud security space.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Fortinet a decade ago, you're probably feeling pretty good about your investment today.
A $1000 investment made in November 2014 would be worth $17,089.39, or a 1,608.94% gain, as of November 28, 2024, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
The S&P 500 rose 189.40% and the price of gold increased 117.19% over the same time frame in comparison.
Analysts are forecasting more upside for FTNT too.
Fortinet’s third-quarter results reflect strength in demand from large enterprise customers and growth in the company's security subscriptions amid a slowdown in networking products, along with challenges in sales execution and marketing efficiency. Continued deal wins, especially those of high value, are a key driver. Higher IT spending on cybersecurity is further expected to aid Fortinet in growing faster than the security market. The focus on enhancing its unified threat management (UTM) portfolio through product development and acquisitions is a tailwind. Shares of the company have outperformed the industry in the year-to-date period. However, intensifying competition due to increasing consolidation in the security industry poses concerns. Increased hiring and mergers & acquisitions spending remain overhangs on margin.
The stock is up 19.46% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 13 higher, for fiscal 2024. The consensus estimate has moved up as well.