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Fortinet (FTNT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $275.44, marking a -1.32% move from the previous day. This move lagged the S&P 500's daily loss of 0.74%.
Prior to today's trading, shares of the network security company had lost 10.04% over the past month. This has lagged the Computer and Technology sector's loss of 7.96% and the S&P 500's loss of 4.6% in that time.
Fortinet will be looking to display strength as it nears its next earnings release. In that report, analysts expect Fortinet to post earnings of $0.79 per share. This would mark a year-over-year decline of 2.47%. Our most recent consensus estimate is calling for quarterly revenue of $883.98 million, up 24.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.94 per share and revenue of $4.3 billion, which would represent changes of +23.81% and +28.65%, respectively, from the prior year.
Any recent changes to analyst estimates for Fortinet should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.09% higher. Fortinet is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Fortinet currently has a Forward P/E ratio of 56.5. This valuation marks a premium compared to its industry's average Forward P/E of 50.08.
Also, we should mention that FTNT has a PEG ratio of 3.65. 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 3.1 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 191, putting it in the bottom 25% 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.
View the Zacks #1 Rank List
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Fortinet (FTNT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $275.44, marking a -1.32% move from the previous day. This move lagged the S&P 500's daily loss of 0.74%.
Prior to today's trading, shares of the network security company had lost 10.04% over the past month. This has lagged the Computer and Technology sector's loss of 7.96% and the S&P 500's loss of 4.6% in that time.
Fortinet will be looking to display strength as it nears its next earnings release. In that report, analysts expect Fortinet to post earnings of $0.79 per share. This would mark a year-over-year decline of 2.47%. Our most recent consensus estimate is calling for quarterly revenue of $883.98 million, up 24.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.94 per share and revenue of $4.3 billion, which would represent changes of +23.81% and +28.65%, respectively, from the prior year.
Any recent changes to analyst estimates for Fortinet should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.09% higher. Fortinet is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Fortinet currently has a Forward P/E ratio of 56.5. This valuation marks a premium compared to its industry's average Forward P/E of 50.08.
Also, we should mention that FTNT has a PEG ratio of 3.65. 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 3.1 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 191, putting it in the bottom 25% 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.