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) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
Fortinet (FTNT - Free Report) ended the recent trading session at $148.00, demonstrating a +1.8% change from the preceding day's closing price. This change outpaced the S&P 500's 1.44% loss on the day. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 2.22%.
Coming into today, shares of the network security company had gained 8.56% in the past month. In that same time, the Computer and Technology sector gained 0.98%, while the S&P 500 gained 0.08%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.74, marking a 15.63% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.88 billion, up 15.44% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $7.8 billion. These totals would mark changes of +13.41% and +14.65%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Fortinet. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. At present, Fortinet boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 46.38. This represents a premium compared to its industry average Forward P/E of 41.69.
Investors should also note that FTNT has a PEG ratio of 3.53 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. FTNT's industry had an average PEG ratio of 2.87 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Fortinet (FTNT) Rises As Market Takes a Dip: Key Facts
Fortinet (FTNT - Free Report) ended the recent trading session at $148.00, demonstrating a +1.8% change from the preceding day's closing price. This change outpaced the S&P 500's 1.44% loss on the day. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 2.22%.
Coming into today, shares of the network security company had gained 8.56% in the past month. In that same time, the Computer and Technology sector gained 0.98%, while the S&P 500 gained 0.08%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.74, marking a 15.63% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.88 billion, up 15.44% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $7.8 billion. These totals would mark changes of +13.41% and +14.65%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Fortinet. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. At present, Fortinet boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 46.38. This represents a premium compared to its industry average Forward P/E of 41.69.
Investors should also note that FTNT has a PEG ratio of 3.53 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. FTNT's industry had an average PEG ratio of 2.87 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.