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Fortinet (FTNT) Stock Moves -0.31%: What You Should Know
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Fortinet (FTNT - Free Report) closed at $331.60 in the latest trading session, marking a -0.31% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.91%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the network security company had lost 2.79% in the past month. In that same time, the Computer and Technology sector gained 1.29%, while the S&P 500 gained 1.55%.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $1.14, up 7.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $3.89 per share and revenue of $3.34 billion. These results would represent year-over-year changes of +16.12% and +28.88%, respectively.
Investors should also note any recent changes to analyst estimates for Fortinet. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fortinet is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Fortinet is currently trading at a Forward P/E ratio of 85.49. For comparison, its industry has an average Forward P/E of 57.48, which means Fortinet is trading at a premium to the group.
It is also worth noting that FTNT currently has a PEG ratio of 5.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Security stocks are, on average, holding a PEG ratio of 3.24 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Fortinet (FTNT) Stock Moves -0.31%: What You Should Know
Fortinet (FTNT - Free Report) closed at $331.60 in the latest trading session, marking a -0.31% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.91%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the network security company had lost 2.79% in the past month. In that same time, the Computer and Technology sector gained 1.29%, while the S&P 500 gained 1.55%.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $1.14, up 7.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $3.89 per share and revenue of $3.34 billion. These results would represent year-over-year changes of +16.12% and +28.88%, respectively.
Investors should also note any recent changes to analyst estimates for Fortinet. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Fortinet is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Fortinet is currently trading at a Forward P/E ratio of 85.49. For comparison, its industry has an average Forward P/E of 57.48, which means Fortinet is trading at a premium to the group.
It is also worth noting that FTNT currently has a PEG ratio of 5.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Security stocks are, on average, holding a PEG ratio of 3.24 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.