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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks 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? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is one of 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 0.66% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that FTNT has returned about 5.96% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 4.23% on a year-to-date basis. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FTNT belongs to the Security industry, which includes 11 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, this group has gained an average of 5.20% so far this year, meaning that FTNT is performing better in terms of year-to-date returns.
FTNT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks 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? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is one of 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 0.66% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that FTNT has returned about 5.96% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 4.23% on a year-to-date basis. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FTNT belongs to the Security industry, which includes 11 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, this group has gained an average of 5.20% so far this year, meaning that FTNT is performing better in terms of year-to-date returns.
FTNT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.