Fortinet's FortiGuard and FortiCare Services achieve GovRAMP authorization, enhancing cybersecurity for public sector organizations.
Quiver AI Summary
Fortinet announced that its FortiGuard AI-Powered Security Services and FortiCare Services have been authorized at a moderate impact level by the Government Risk and Authorization Management Program (GovRAMP), previously known as StateRAMP. This authorization demonstrates Fortinet's commitment to providing reliable cybersecurity solutions for state and local government agencies, as well as educational institutions. The GovRAMP designation allows public sector organizations access to comprehensive threat intelligence and enhances their ability to detect and respond to cybersecurity threats effectively. Fortinet emphasizes the importance of its services, particularly for agencies lacking in-house security expertise, and plans to pursue Federal Risk and Authorization Management Program (FedRAMP) certification to maintain high security standards in serving government entities.
Potential Positives
- Fortinet has achieved GovRAMP authorization for its FortiGuard AI-Powered Security Services and FortiCare Services, enhancing its credibility and trustworthiness among state and local government clients.
- The authorization allows Fortinet to serve public sector organizations with standardized cybersecurity solutions, addressing the needs for security in government environments.
- Fortinet's commitment to further pursue FedRAMP certification indicates its intention to meet rigorous security standards and expand its presence in the federal market.
- The press release highlights Fortinet's extensive support network for government agencies, including 24x7 global technical support and access to over 1,900 security experts, enhancing their operational efficiency in cybersecurity initiatives.
Potential Negatives
- While gaining GovRAMP authorization is beneficial, it highlights the potential vulnerabilities in their existing security measures prior to the approval, suggesting that there may have been significant concerns regarding compliance and security standards that needed to be addressed.
- The press release focuses heavily on Fortinet's achievements but fails to disclose any potential challenges or criticisms faced while pursuing GovRAMP authorization, which could lead to skepticism about the thoroughness of their security processes.
- The mention of future pursuits for FedRAMP certification implies that they may still be in the process of meeting essential government cybersecurity standards, suggesting that they may not yet be fully compliant or trusted in all government sectors.
FAQ
What is GovRAMP authorization for Fortinet's services?
GovRAMP authorization confirms that Fortinet's services meet government cybersecurity standards, particularly for state and local agencies.
How do FortiGuard services enhance cybersecurity?
FortiGuard services provide actionable threat intelligence to help detect and counter complex cyber threats effectively.
What benefits does FortiCare offer to government agencies?
FortiCare provides 24/7 technical support and access to over 1,900 experts to assist government organizations with security operations.
Why is Fortinet pursuing FedRAMP certification?
Fortinet aims to achieve FedRAMP certification to meet high security standards required for serving federal government entities.
How can I learn more about Fortinet's security solutions?
Visit fortinet.com/trust for detailed information on Fortinet's cybersecurity innovations and product offerings.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FTNT Congressional Stock Trading
Members of Congress have traded $FTNT stock 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $FTNT stock by members of Congress over the last 6 months:
- REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 2 purchases worth up to $30,000 on 02/13 and 0 sales.
- REPRESENTATIVE ROBERT BRESNAHAN sold up to $15,000 on 01/13.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$FTNT Insider Trading Activity
$FTNT insiders have traded $FTNT stock on the open market 57 times in the past 6 months. Of those trades, 2 have been purchases and 55 have been sales.
Here’s a breakdown of recent trading of $FTNT stock by insiders over the last 6 months:
- KEN XIE (PRESIDENT & CEO) has made 0 purchases and 30 sales selling 389,156 shares for an estimated $38,093,536.
- MICHAEL XIE (VP, ENGINEERING & CTO) has made 0 purchases and 7 sales selling 351,496 shares for an estimated $34,028,399.
- KEITH JENSEN (Chief Financial Officer) has made 0 purchases and 14 sales selling 119,765 shares for an estimated $11,511,466.
- JOHN WHITTLE (CHIEF OPERATING OFFICER) has made 0 purchases and 2 sales selling 38,495 shares for an estimated $3,293,666.
- KENNETH A GOLDMAN has made 0 purchases and 2 sales selling 3,000 shares for an estimated $299,320.
- WILLIAM H. NEUKOM has made 2 purchases buying 683 shares for an estimated $69,845 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FTNT Hedge Fund Activity
We have seen 603 institutional investors add shares of $FTNT stock to their portfolio, and 516 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NORGES BANK added 6,759,922 shares (+748.1%) to their portfolio in Q4 2024, for an estimated $638,677,430
- FMR LLC added 2,846,475 shares (+77.2%) to their portfolio in Q4 2024, for an estimated $268,934,958
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 2,151,811 shares (+39.3%) to their portfolio in Q4 2024, for an estimated $203,303,103
- BESSEMER GROUP INC added 2,064,016 shares (+72.6%) to their portfolio in Q4 2024, for an estimated $195,008,231
- SWEDBANK AB removed 2,015,745 shares (-29.6%) from their portfolio in Q4 2024, for an estimated $190,447,587
- INVESCO LTD. added 2,000,888 shares (+31.3%) to their portfolio in Q4 2024, for an estimated $189,043,898
- MILLENNIUM MANAGEMENT LLC removed 1,811,984 shares (-49.9%) from their portfolio in Q4 2024, for an estimated $171,196,248
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FTNT Analyst Ratings
Wall Street analysts have issued reports on $FTNT in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Goldman Sachs issued a "Buy" rating on 01/02/2025
- KeyBanc issued a "Overweight" rating on 12/19/2024
- Morgan Stanley issued a "Overweight" rating on 12/02/2024
- Cowen & Co. issued a "Buy" rating on 11/19/2024
To track analyst ratings and price targets for $FTNT, check out Quiver Quantitative's $FTNT forecast page.
$FTNT Price Targets
Multiple analysts have issued price targets for $FTNT recently. We have seen 8 analysts offer price targets for $FTNT in the last 6 months, with a median target of $103.0.
Here are some recent targets:
- An analyst from Roth Capital set a target price of $103.0 on 04/22/2025
- An analyst from UBS set a target price of $123.0 on 03/18/2025
- Eric Heath from KeyBanc set a target price of $115.0 on 12/19/2024
- Adam Borg from Stifel Nicolaus set a target price of $103.0 on 12/18/2024
- Catherine Trebnick from Rosenblatt Securities set a target price of $100.0 on 11/19/2024
- Stephen Bersey from HSBC set a target price of $111.0 on 11/11/2024
- Keith Bachman from BMO Capital set a target price of $88.0 on 11/08/2024
Full Release
SUNNYVALE, Calif., April 23, 2025 (GLOBE NEWSWIRE) --
News Summary
Fortinet ®, the global cybersecurity leader driving the convergence of networking and security, today announced that FortiGuard AI-Powered Security Services and FortiCare Services have received GovRAMP, previously known as StateRAMP, authorization at a moderate impact level from the Government Risk and Authorization Management Program (GovRAMP®).
“Fortinet’s GovRAMP authorization underscores our commitment to delivering trusted security solutions for state and local government agencies, educational institutions, and other public sector partners,” said John Whittle, Chief Operating Officer at Fortinet. “With Fortinet, state and local government institutions have access to robust threat intelligence and security support, facilitating the effective detection and mitigation of risks, and faster incident response.”
GovRAMP standardizes cybersecurity technology delivery for state and local organizations, and provides accreditation to vendors that meet the collective security requirements of such entities. Fortinet’s designation as a GovRAMP-authorized vendor provides public sector organizations with the comprehensive threat intelligence and analysis required to proactively address security gaps and vulnerabilities.
“We congratulate Fortinet on achieving GovRAMP Authorization at the Moderate Impact Level for its FortiCare and FortiGuard services,” said Leah McGrath, Executive Director, GovRAMP. “This milestone reflects Fortinet’s continued leadership and commitment to meeting the high security and transparency standards required to serve the public sector. GovRAMP is proud to support providers who prioritize risk reduction, continuous monitoring, and cybersecurity resilience across government.”
FortiGuard AI-Powered Security Services, natively integrated into the Fortinet Security Fabric, delivers comprehensive, actionable threat intelligence enabling teams to detect and counter evasive and never-seen-before threats. FortiGuard services, which are continuously updated with the latest intelligence data and telemetry from Fortinet’s broad sensor base and research discoveries, ensure heightened efficacy against complex cyberthreats.
The GovRAMP authorization of FortiCare Services also helps government organizations with the deployment and sustainment of their security operations. Agencies often lack the in-house expertise and resources to support security initiatives, FortiCare Support Services provides users with global technical support 24x7 and access to over 1,900 experts to ensure efficient operation and maintenance of Fortinet capabilities.
GovRAMP validation requirements for vendors are built on the National Institute of Standards and Technology (NIST) Special Publication 800-53 Rev. 4 framework, modeled in part after FedRAMP. To obtain GovRAMP authorization at a moderate impact level, Fortinet fulfilled the security requirements outlined in this framework, and completed a successful independent audit conducted by a third-party assessing organization (3PAO).
Fortinet has a long history of leadership within the public sector security community. The company works closely with government agencies to define security requirements and deliver leading solutions to serve its departments and organizations. To further build on these efforts, Fortinet intends to also pursue Federal Risk and Authorization Management Program (FedRAMP) certification as part of the company’s ongoing commitment to meet the rigorous security standards required to serve government entities.
Additional Resources
- Visit fortinet.com/trust to learn more about Fortinet innovation, collaboration partners, product security processes, and enterprise-grade products.
- Learn more about Fortinet's commitment to product security and integrity , including its responsible product development and vulnerability disclosure approach and policies.
- Learn about Fortinet’s free cybersecurity training , which includes broad cyber awareness and product training. The Fortinet Training Institute also provides training and certification through the Network Security Expert (NSE) Certification , Academic Partner , and Education Outreach programs.
- Learn more about FortiGuard Labs threat intelligence and research and Outbreak Alerts , which provide timely steps to mitigate breaking cybersecurity attacks.
- Learn more about Fortinet’s FortiGuard Security Services portfolio.
- Read about how Fortinet customers are securing their organizations.
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About Fortinet (www.fortinet.com)
Fortinet
(Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The
Fortinet Training Institute
, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with
esteemed organizations
from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally.
FortiGuard Labs
, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at
https://www.fortinet.com
, the
Fortinet Blog
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FortiGuard Labs
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Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAgent, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiEndpoint FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSEC, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.
Media Contact: | Investor Contact: | Analyst Contact: |
Stephanie Lira
Fortinet, Inc. 408-235-7700 [email protected] |
Aaron Ovadia
Fortinet, Inc. 408-235-7700 [email protected] |
Brian Greenberg
Fortinet, Inc. 408-235-7700 [email protected] |