Is Keysight Technologies (KEYS) Deepening Its Moat in Cybersecurity Validation With the Fortinet Win?

• On August 5, 2025, Fortinet announced it selected Keysight Technologies' BreakingPoint QuickTest tool to validate the security efficacy and SSL inspection performance of its new FortiGate 700G next-generation firewall.
• This collaboration underscores Keysight's prominence in providing advanced, standards-based network security validation solutions to leading cybersecurity vendors, highlighting the increasing importance of real-world testing in enterprise cybersecurity.
• We’ll now explore how Fortinet’s use of Keysight’s testing solution may shape Keysight’s investment narrative in the cybersecurity market.

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Keysight Technologies Investment Narrative Recap

To be a shareholder in Keysight Technologies, you need to believe in the company's role at the forefront of high-speed connectivity, cybersecurity, and test solutions, especially as digital transformation accelerates. While the Fortinet partnership highlights product relevance in the growing cybersecurity segment, the most important short-term catalyst remains sustained R&D-driven demand in AI data centers, with the biggest risk stemming from continued macro uncertainty or weak end-market demand; the Fortinet news, while positive, does not materially alter these near-term drivers or threats.

Among Keysight’s recent announcements, the delivery of a commercial quantum control system to AIST in Japan stands out. This development complements the company’s consistent push into advanced technologies that broaden its portfolio and could reinforce drivers like next-generation wireless and enterprise demand, but it, like the Fortinet deal, does not immediately alleviate cyclical risks in hardware or global supply chains.

However, investors should also be aware that even as Keysight builds momentum in areas like cybersecurity, risks from uneven recovery in end-markets such as automotive, energy, and China manufacturing remain...

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

Keysight Technologies is projected to reach $6.2 billion in revenue and $1.3 billion in earnings by 2028. This forecast is based on an annual revenue growth rate of 6.6% and represents a $558 million increase in earnings from the current level of $742.0 million.

Uncover how Keysight Technologies' forecasts yield a $188.18 fair value, a 11% upside to its current price.

Exploring Other Perspectives

Private fair value estimates for Keysight from four Simply Wall St Community members span US$165.63 to US$190.01. While views are split on valuation, keep in mind that ongoing R&D momentum and software adoption are seen as crucial drivers of long-term performance, your own view may differ, so consider multiple perspectives.

Explore 4 other fair value estimates on Keysight Technologies - why the stock might be worth as much as 12% more than the current price!

Build Your Own Keysight Technologies Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Keysight Technologies research is our analysis highlighting 1 key reward and 1 important warning sign that could impact your investment decision.
• Our free Keysight Technologies research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Keysight Technologies' overall financial health at a glance.

No Opportunity In Keysight Technologies?

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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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