Should Fortinet's (FTNT) Expanded Armis Partnership Reinforce Confidence in Its Integrated Cybersecurity Vision?

• Armis and Fortinet recently announced an expanded partnership aimed at simplifying security programs and enhancing cyber resilience for global organizations by integrating Armis Centrix with FortiOS to deliver a unified security ecosystem with real-time risk context and automated enforcement.
• This collaboration leverages Armis's extensive device asset intelligence to boost Fortinet’s automated policy enforcement and provides organizations with a more complete and proactive security posture.
• We'll assess how the expanded Armis partnership strengthens Fortinet’s platform and its investment narrative around integrated, intelligent cybersecurity solutions.

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Fortinet Investment Narrative Recap

To be a Fortinet shareholder, you need to believe that accelerating demand for integrated cybersecurity platforms and ongoing enterprise digital transformation can sustain the company’s revenue growth even as hardware upgrade cycles eventually slow. The expanded Armis partnership may sharpen Fortinet’s competitive edge in automation and risk detection, but it does not materially change the most important short-term catalyst, momentum in large enterprise deals, or address the biggest current risk: a post-refresh deceleration in hardware-driven revenue. Among recent developments, Fortinet’s recognition as a Leader in the 2025 Gartner Magic Quadrant for SASE Platforms stands out. This context makes the Armis alliance even more relevant, reinforcing catalysts such as greater cloud adoption and multi-product expansion into enterprise accounts through unified, automated security solutions. Yet, what many investors might miss is that after the current hardware cycles conclude, Fortinet could face a meaningful shift if...

Read the full narrative on Fortinet (it's free!)

Fortinet's outlook anticipates $9.2 billion in revenue and $2.4 billion in earnings by 2028. This scenario assumes 13.1% annual revenue growth and a $0.5 billion increase in earnings from the current $1.9 billion.

Uncover how Fortinet's forecasts yield a $90.32 fair value, a 5% upside to its current price.

Exploring Other Perspectives

Fair value estimates from 32 Simply Wall St Community members span from US$74.10 to US$110.39 per share. While opinions vary widely, many are closely watching whether Fortinet can sustain its growth beyond the hardware upgrade cycle.

Explore 32 other fair value estimates on Fortinet - why the stock might be worth 14% less than the current price!

Build Your Own Fortinet Narrative

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• A great starting point for your Fortinet research is our analysis highlighting 4 key rewards that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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