Back to top

Image: Bigstock

Are Computer and Technology Stocks Lagging Fortinet (FTNT) This Year?

Read MoreHide Full Article

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Fortinet is a member of our Computer and Technology group, which includes 646 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fortinet is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, FTNT has returned 25.2% so far this year. In comparison, Computer and Technology companies have returned an average of 15.5%. This means that Fortinet is outperforming the sector as a whole this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Arista Networks (ANET - Free Report) . The stock has returned 34.5% year-to-date.

For Arista Networks, the consensus EPS estimate for the current year has increased 14.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Fortinet belongs to the Security industry, which includes 7 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 24.6% so far this year, so FTNT is performing better in this area.

Arista Networks, however, belongs to the Communication - Components industry. Currently, this 15-stock industry is ranked #208. The industry has moved +17.7% so far this year.

Investors with an interest in Computer and Technology stocks should continue to track Fortinet and Arista Networks. These stocks will be looking to continue their solid performance.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Fortinet, Inc. (FTNT) - free report >>

Arista Networks, Inc. (ANET) - free report >>

Published in