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Fortinet (FTNT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $76.94, marking a -0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.8%.
Prior to today's trading, shares of the network security company had lost 6.1% over the past month. This has lagged the Computer and Technology sector's gain of 0.95% and the S&P 500's gain of 2.47% in that time.
Wall Street will be looking for positivity from FTNT as it approaches its next earnings report date. In that report, analysts expect FTNT to post earnings of $0.50 per share. This would mark year-over-year growth of 21.95%. Our most recent consensus estimate is calling for quarterly revenue of $510.89 million, up 15.77% from the year-ago period.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $2.09 billion. These results would represent year-over-year changes of +15.76% and +15.77%, respectively.
Any recent changes to analyst estimates for FTNT should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FTNT is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that FTNT has a Forward P/E ratio of 36.08 right now. This represents a discount compared to its industry's average Forward P/E of 38.76.
Also, we should mention that FTNT has a PEG ratio of 2.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Security was holding an average PEG ratio of 2.27 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 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.
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Fortinet (FTNT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $76.94, marking a -0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.8%.
Prior to today's trading, shares of the network security company had lost 6.1% over the past month. This has lagged the Computer and Technology sector's gain of 0.95% and the S&P 500's gain of 2.47% in that time.
Wall Street will be looking for positivity from FTNT as it approaches its next earnings report date. In that report, analysts expect FTNT to post earnings of $0.50 per share. This would mark year-over-year growth of 21.95%. Our most recent consensus estimate is calling for quarterly revenue of $510.89 million, up 15.77% from the year-ago period.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $2.09 billion. These results would represent year-over-year changes of +15.76% and +15.77%, respectively.
Any recent changes to analyst estimates for FTNT should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FTNT is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that FTNT has a Forward P/E ratio of 36.08 right now. This represents a discount compared to its industry's average Forward P/E of 38.76.
Also, we should mention that FTNT has a PEG ratio of 2.4. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Security was holding an average PEG ratio of 2.27 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 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.