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Fortinet (FTNT) Stock Moves -0.99%: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $330.53, marking a -0.99% move from the previous day. This change was narrower than the S&P 500's 1.14% loss on the day. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 0.36%.
Coming into today, shares of the network security company had lost 2.53% in the past month. In that same time, the Computer and Technology sector lost 4.36%, while the S&P 500 lost 1.37%.
Fortinet will be looking to display strength as it nears its next earnings release. In that report, analysts expect Fortinet to post earnings of $1.14 per share. This would mark year-over-year growth of 7.55%. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.89 per share and revenue of $3.34 billion, which would represent changes of +16.12% and +28.88%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Fortinet currently has a Zacks Rank of #3 (Hold).
Investors should also note Fortinet's current valuation metrics, including its Forward P/E ratio of 85.8. This represents a premium compared to its industry's average Forward P/E of 59.12.
It is also worth noting that FTNT currently has a PEG ratio of 5.72. 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. FTNT's industry had an average PEG ratio of 3.5 as of yesterday's close.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Fortinet (FTNT) Stock Moves -0.99%: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $330.53, marking a -0.99% move from the previous day. This change was narrower than the S&P 500's 1.14% loss on the day. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 0.36%.
Coming into today, shares of the network security company had lost 2.53% in the past month. In that same time, the Computer and Technology sector lost 4.36%, while the S&P 500 lost 1.37%.
Fortinet will be looking to display strength as it nears its next earnings release. In that report, analysts expect Fortinet to post earnings of $1.14 per share. This would mark year-over-year growth of 7.55%. Meanwhile, our latest consensus estimate is calling for revenue of $960.88 million, up 28.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.89 per share and revenue of $3.34 billion, which would represent changes of +16.12% and +28.88%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Fortinet currently has a Zacks Rank of #3 (Hold).
Investors should also note Fortinet's current valuation metrics, including its Forward P/E ratio of 85.8. This represents a premium compared to its industry's average Forward P/E of 59.12.
It is also worth noting that FTNT currently has a PEG ratio of 5.72. 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. FTNT's industry had an average PEG ratio of 3.5 as of yesterday's close.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.