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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Fortinet is a member of the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fortinet is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FTNT has returned 119.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.4%. As we can see, Fortinet is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Ambiq Micro, Inc. (AMBQ - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 149.3%.
In Ambiq Micro, Inc.'s case, the consensus EPS estimate for the current year increased 31.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fortinet belongs to the Security industry, a group that includes 9 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 95.7% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
Ambiq Micro, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 49-stock industry is ranked #41. The industry has moved +37.9% so far this year.
Fortinet and Ambiq Micro, Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Fortinet is a member of the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fortinet is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FTNT has returned 119.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.4%. As we can see, Fortinet is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Ambiq Micro, Inc. (AMBQ - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 149.3%.
In Ambiq Micro, Inc.'s case, the consensus EPS estimate for the current year increased 31.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fortinet belongs to the Security industry, a group that includes 9 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 95.7% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
Ambiq Micro, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 49-stock industry is ranked #41. The industry has moved +37.9% so far this year.
Fortinet and Ambiq Micro, Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.