Updates: FTNT 2Q23 - More Attractive With Private SASE And SD-WAN Story
Summary
* FTNT appears more attractively valued after a substantial expectation reset following its latest earnings release.
* Short-term headwinds persist for the next four quarters due to higher comparables, supply-demand imbalances, and normal seasonality.
* FTNT's long-term growth areas, including SASE, SD-WAN, OT, and non-FortiGate products, strengthen its competitive positioning.
After a substantial expectation reset following its latest earnings release, Fortinet (FTNT) now appears m