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Fortinet (FTNT) Gains As Market Dips: What You Should Know
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Fortinet (FTNT - Free Report) closed at $148.17 in the latest trading session, marking a +0.02% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 1.25%.
Heading into today, shares of the network security company had gained 16.13% over the past month, outpacing the Computer and Technology sector's gain of 3.38% and the S&P 500's gain of 3.42% in that time.
FTNT will be looking to display strength as it nears its next earnings release, which is expected to be February 4, 2021. The company is expected to report EPS of $0.96, up 26.32% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $721.82 million, up 17.48% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for FTNT. These revisions help to show the ever-changing nature of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.84% higher. FTNT is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note FTNT's current valuation metrics, including its Forward P/E ratio of 41.53. This represents a discount compared to its industry's average Forward P/E of 48.18.
It is also worth noting that FTNT currently has a PEG ratio of 2.91. 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. Security stocks are, on average, holding a PEG ratio of 2.69 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.
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Fortinet (FTNT) Gains As Market Dips: What You Should Know
Fortinet (FTNT - Free Report) closed at $148.17 in the latest trading session, marking a +0.02% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 1.25%.
Heading into today, shares of the network security company had gained 16.13% over the past month, outpacing the Computer and Technology sector's gain of 3.38% and the S&P 500's gain of 3.42% in that time.
FTNT will be looking to display strength as it nears its next earnings release, which is expected to be February 4, 2021. The company is expected to report EPS of $0.96, up 26.32% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $721.82 million, up 17.48% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for FTNT. These revisions help to show the ever-changing nature of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.84% higher. FTNT is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note FTNT's current valuation metrics, including its Forward P/E ratio of 41.53. This represents a discount compared to its industry's average Forward P/E of 48.18.
It is also worth noting that FTNT currently has a PEG ratio of 2.91. 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. Security stocks are, on average, holding a PEG ratio of 2.69 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.