Fortinet Is Building a New Cybersecurity Service With Google Cloud — Time to Buy This Beaten-Down Stock?

Big cybersecurity pure play Fortinet (NASDAQ: FTNT) took a beating after its last earnings update in August 2023. After a hot growth streak during the pandemic-fueled cycle of data center upgrades (in support of a big pivot to cloud computing), Fortinet is slowing down. The company has been quietly making a push into a new realm of cybersecurity, and it just announced a new partnership with Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google Cloud to further its efforts.