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Fortinet (FTNT) Advances While Market Declines: Some Information for Investors
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In the latest close session, Fortinet (FTNT - Free Report) was up +1.04% at $158.85. This move outpaced the S&P 500's daily loss of 0.59%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq lost 0.65%.
Shares of the network security company witnessed a loss of 2.25% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.02%, and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. In that report, analysts expect Fortinet to post earnings of $0.85 per share. This would mark year-over-year growth of 14.86%. Our most recent consensus estimate is calling for quarterly revenue of $2.06 billion, up 19.47% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.4 per share and a revenue of $8.12 billion, representing changes of +23.19% and +19.37%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Fortinet. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Fortinet holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 46.18. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 46.18.
Meanwhile, FTNT's PEG ratio is currently 2.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Security industry stood at 2.67 at the close of the market yesterday.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Fortinet (FTNT) Advances While Market Declines: Some Information for Investors
In the latest close session, Fortinet (FTNT - Free Report) was up +1.04% at $158.85. This move outpaced the S&P 500's daily loss of 0.59%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq lost 0.65%.
Shares of the network security company witnessed a loss of 2.25% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.02%, and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. In that report, analysts expect Fortinet to post earnings of $0.85 per share. This would mark year-over-year growth of 14.86%. Our most recent consensus estimate is calling for quarterly revenue of $2.06 billion, up 19.47% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.4 per share and a revenue of $8.12 billion, representing changes of +23.19% and +19.37%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Fortinet. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Fortinet holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 46.18. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 46.18.
Meanwhile, FTNT's PEG ratio is currently 2.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Security industry stood at 2.67 at the close of the market yesterday.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.