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Fortinet (FTNT) Rises As Market Takes a Dip: Key Facts
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The most recent trading session ended with Fortinet (FTNT - Free Report) standing at $68.85, reflecting a +1.52% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.72% for the day. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Coming into today, shares of the network security company had lost 5% in the past month. In that same time, the Computer and Technology sector gained 2.34%, while the S&P 500 gained 2.16%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.38, reflecting a 11.76% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.33 billion, indicating a 5.73% upward movement from the same quarter last year.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.69 per share and revenue of $5.77 billion. These results would represent year-over-year changes of +3.68% and +8.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Fortinet possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 40.16. Its industry sports an average Forward P/E of 29.23, so one might conclude that Fortinet is trading at a premium comparatively.
Meanwhile, FTNT's PEG ratio is currently 2.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.92 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Fortinet (FTNT) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with Fortinet (FTNT - Free Report) standing at $68.85, reflecting a +1.52% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.72% for the day. Elsewhere, the Dow lost 1%, while the tech-heavy Nasdaq lost 0.95%.
Coming into today, shares of the network security company had lost 5% in the past month. In that same time, the Computer and Technology sector gained 2.34%, while the S&P 500 gained 2.16%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.38, reflecting a 11.76% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.33 billion, indicating a 5.73% upward movement from the same quarter last year.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.69 per share and revenue of $5.77 billion. These results would represent year-over-year changes of +3.68% and +8.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Fortinet possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 40.16. Its industry sports an average Forward P/E of 29.23, so one might conclude that Fortinet is trading at a premium comparatively.
Meanwhile, FTNT's PEG ratio is currently 2.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.92 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.