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Fortinet (FTNT) Stock Moves -0.11%: What You Should Know
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Fortinet (FTNT - Free Report) closed the most recent trading day at $359.40, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.26%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the network security company had gained 14.9% over the past month. This has outpaced the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 4.82% in that time.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $1.14, up 7.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.89 per share and revenue of $3.34 billion. These totals would mark changes of +16.12% and +28.88%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fortinet is currently a Zacks Rank #3 (Hold).
In terms of valuation, Fortinet is currently trading at a Forward P/E ratio of 92.47. This valuation marks a premium compared to its industry's average Forward P/E of 77.53.
Investors should also note that FTNT has a PEG ratio of 6.16 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Security was holding an average PEG ratio of 5.19 at yesterday's closing price.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Fortinet (FTNT) Stock Moves -0.11%: What You Should Know
Fortinet (FTNT - Free Report) closed the most recent trading day at $359.40, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.26%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the network security company had gained 14.9% over the past month. This has outpaced the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 4.82% in that time.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $1.14, up 7.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.89 per share and revenue of $3.34 billion. These totals would mark changes of +16.12% and +28.88%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fortinet is currently a Zacks Rank #3 (Hold).
In terms of valuation, Fortinet is currently trading at a Forward P/E ratio of 92.47. This valuation marks a premium compared to its industry's average Forward P/E of 77.53.
Investors should also note that FTNT has a PEG ratio of 6.16 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Security was holding an average PEG ratio of 5.19 at yesterday's closing price.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.