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Fortinet (FTNT) Gains As Market Dips: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $74.33, marking a +0.91% move from the previous day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 2.93%.
Prior to today's trading, shares of the network security company had gained 7.47% over the past month. This has outpaced the Computer and Technology sector's gain of 2.92% and the S&P 500's gain of 4.22% 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 $0.34 per share. This would mark year-over-year growth of 41.67%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, up 26.41% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.46 per share and revenue of $5.46 billion. These results would represent year-over-year changes of +22.69% and +23.64%, respectively.
It is also important to note the recent changes to analyst estimates for Fortinet. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Fortinet is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 50.34. This represents a premium compared to its industry's average Forward P/E of 40.81.
We can also see that FTNT currently has a PEG ratio of 2.8. 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. The Internet - Software industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Fortinet (FTNT) Gains As Market Dips: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $74.33, marking a +0.91% move from the previous day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 2.93%.
Prior to today's trading, shares of the network security company had gained 7.47% over the past month. This has outpaced the Computer and Technology sector's gain of 2.92% and the S&P 500's gain of 4.22% 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 $0.34 per share. This would mark year-over-year growth of 41.67%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, up 26.41% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.46 per share and revenue of $5.46 billion. These results would represent year-over-year changes of +22.69% and +23.64%, respectively.
It is also important to note the recent changes to analyst estimates for Fortinet. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Fortinet is currently a Zacks Rank #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 50.34. This represents a premium compared to its industry's average Forward P/E of 40.81.
We can also see that FTNT currently has a PEG ratio of 2.8. 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. The Internet - Software industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.