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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors focused on the Computer and Technology space have likely heard of Fortinet (FTNT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group's stocks.
Fortinet is a member of our Computer and Technology group, which includes 624 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.01% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FTNT has gained about 96.45% so far this year. In comparison, Computer and Technology companies have returned an average of 11.14%. As we can see, Fortinet is performing better than its sector in the calendar year.
Breaking things down more, FTNT is a member of the Security industry, which currently sits at #35 in the Zacks Industry Rank. Stocks in this group have gained about 42.09% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to FTNT as it looks to continue its solid performance.
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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Fortinet (FTNT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group's stocks.
Fortinet is a member of our Computer and Technology group, which includes 624 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.01% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FTNT has gained about 96.45% so far this year. In comparison, Computer and Technology companies have returned an average of 11.14%. As we can see, Fortinet is performing better than its sector in the calendar year.
Breaking things down more, FTNT is a member of the Security industry, which currently sits at #35 in the Zacks Industry Rank. Stocks in this group have gained about 42.09% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to FTNT as it looks to continue its solid performance.