We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fortinet (FTNT) Declines More Than Market: Some Information for Investors
Read MoreHide Full Article
In the latest trading session, Fortinet (FTNT - Free Report) closed at $79.41, marking a -1.12% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.74%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.76%.
Shares of the network security company witnessed a loss of 3.17% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.14%, and the S&P 500's gain of 0.79%.
Market participants will be closely following the financial results of Fortinet in its upcoming release. The company is predicted to post an EPS of $0.74, indicating constancy compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 11.92% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.69 per share and a revenue of $6.75 billion, signifying shifts of +13.5% and +13.37%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 29.85. This valuation marks a discount compared to its industry average Forward P/E of 54.29.
It's also important to note that FTNT currently trades at a PEG ratio of 2.65. 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. FTNT's industry had an average PEG ratio of 2.65 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 23% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fortinet (FTNT) Declines More Than Market: Some Information for Investors
In the latest trading session, Fortinet (FTNT - Free Report) closed at $79.41, marking a -1.12% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.74%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.76%.
Shares of the network security company witnessed a loss of 3.17% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.14%, and the S&P 500's gain of 0.79%.
Market participants will be closely following the financial results of Fortinet in its upcoming release. The company is predicted to post an EPS of $0.74, indicating constancy compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 11.92% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.69 per share and a revenue of $6.75 billion, signifying shifts of +13.5% and +13.37%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 29.85. This valuation marks a discount compared to its industry average Forward P/E of 54.29.
It's also important to note that FTNT currently trades at a PEG ratio of 2.65. 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. FTNT's industry had an average PEG ratio of 2.65 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 23% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.