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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Fortinet (FTNT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group's stocks.

Fortinet is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. FTNT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 17.94% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, FTNT has moved about 42.94% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 5.44%. This shows that Fortinet is outperforming its peers so far this year.

Looking more specifically, FTNT belongs to the Security industry, a group currently sits at #110 in the Zacks Industry Rank. Stocks in this group have gained about 24.18% so far this year, so FTNT is performing better this group in terms of year-to-date returns.

FTNT will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.




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