The recent collaboration announced on April 24, 2025, between Bell and Fortinet, where the latter's Secure SD-WAN technology will enhance Bell's managed SD-WAN-as-a-Service, could have added weight to Fortinet's recent share price movement, which rose by approximately 5% over the last week. This positive development comes amid mixed market sentiment, as broader tech stocks saw varying results influenced by earnings reports and uncertainties around tariffs. While the tech-heavy Nasdaq gained marginally, Fortinet's gains suggest that the partnership announcement and the potential for enhanced service offerings provided support within this broader market context.

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The recent collaboration between Bell and Fortinet, highlighted in the introduction, underscores a promising enhancement to Fortinet's managed service offerings. This development aligns with Fortinet's strategic focus on Unified SASE and AI-driven security, which analysts suggest could catalyze revenue growth through SMB momentum. With Fortinet's revenue growth projected to accelerate as a result of these advancements, the earnings forecast might see revised upside potential, assuming successful deployment and customer adoption.

Over a five-year period, Fortinet's total shareholder return, including share price appreciation and dividends, reached a notable 367.42%. In comparison, over the past year, Fortinet's performance exceeded the US Software industry by a significant margin, having grown much faster than the industry's return of 28.2%. This outperformance may reflect the company's ability to capitalize on the growing demand for cybersecurity solutions and successful execution of its business strategies.

Despite recent share price gains, Fortinet's current price of US$94.37 remains at a discount to the analyst consensus price target of US$113.24, indicating room for potential appreciation of about 16.7%. Should the partnership with Bell materialize according to expectations, it could further reinforce Fortinet's competitive edge and impact their ability to meet future revenue and earnings targets, which are pegged at US$8.9 billion and US$2.3 billion respectively by 2028.

Gain insights into Fortinet's historical outcomes by reviewing our past performance report.

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.

Companies discussed in this article include NasdaqGS:FTNT.

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