The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Fortinet (FTNT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.73% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, FTNT has returned 29.32% so far this year. In comparison, Computer and Technology companies have returned an average of 22.40%. As we can see, Fortinet is performing better than its sector in the calendar year.
Looking more specifically, FTNT belongs to the Security industry, a group that includes 11 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 22.93% so far this year, so FTNT is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on FTNT as it attempts to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Fortinet (FTNT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.73% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, FTNT has returned 29.32% so far this year. In comparison, Computer and Technology companies have returned an average of 22.40%. As we can see, Fortinet is performing better than its sector in the calendar year.
Looking more specifically, FTNT belongs to the Security industry, a group that includes 11 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 22.93% so far this year, so FTNT is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on FTNT as it attempts to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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