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Are Computer and Technology Stocks Lagging Fortinet (FTNT) This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FTNT has gained about 138.1% so far this year. In comparison, Computer and Technology companies have returned an average of 23.2%. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Ambiq Micro, Inc. (AMBQ - Free Report) . The stock has returned 106.7% year-to-date.
The consensus estimate for Ambiq Micro, Inc.'s current year EPS has 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 #109 in the Zacks Industry Rank. This group has gained an average of 108% so far this year, so FTNT is performing better in this area.
Ambiq Micro, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 50-stock industry is ranked #105. The industry has moved +31.4% 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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Are Computer and Technology Stocks Lagging Fortinet (FTNT) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Fortinet is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FTNT has gained about 138.1% so far this year. In comparison, Computer and Technology companies have returned an average of 23.2%. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Ambiq Micro, Inc. (AMBQ - Free Report) . The stock has returned 106.7% year-to-date.
The consensus estimate for Ambiq Micro, Inc.'s current year EPS has 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 #109 in the Zacks Industry Rank. This group has gained an average of 108% so far this year, so FTNT is performing better in this area.
Ambiq Micro, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 50-stock industry is ranked #105. The industry has moved +31.4% 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.