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Fortinet (FTNT) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $104.44, marking a +1.25% move from the previous day. This move outpaced the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.19%, and the technology-centric Nasdaq increased by 1.43%.
Coming into today, shares of the network security company had lost 0.01% in the past month. In that same time, the Computer and Technology sector gained 5.67%, while the S&P 500 gained 3.92%.
Analysts and investors alike will be keeping a close eye on the performance of Fortinet in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.59, showcasing a 3.51% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.62 billion, up 12.94% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.48 per share and revenue of $6.75 billion, indicating changes of +4.64% and +13.36%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Fortinet presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 41.62. Its industry sports an average Forward P/E of 74.93, so one might conclude that Fortinet is trading at a discount comparatively.
Meanwhile, FTNT's PEG ratio is currently 3.1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FTNT's industry had an average PEG ratio of 3.1 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Fortinet (FTNT) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Fortinet (FTNT - Free Report) closed at $104.44, marking a +1.25% move from the previous day. This move outpaced the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.19%, and the technology-centric Nasdaq increased by 1.43%.
Coming into today, shares of the network security company had lost 0.01% in the past month. In that same time, the Computer and Technology sector gained 5.67%, while the S&P 500 gained 3.92%.
Analysts and investors alike will be keeping a close eye on the performance of Fortinet in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.59, showcasing a 3.51% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.62 billion, up 12.94% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.48 per share and revenue of $6.75 billion, indicating changes of +4.64% and +13.36%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Fortinet presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 41.62. Its industry sports an average Forward P/E of 74.93, so one might conclude that Fortinet is trading at a discount comparatively.
Meanwhile, FTNT's PEG ratio is currently 3.1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FTNT's industry had an average PEG ratio of 3.1 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.