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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Fortinet (FTNT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 11.14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FTNT has returned about 74.75% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.40% on a year-to-date basis. This shows that Fortinet is outperforming its peers so far this year.
Looking more specifically, FTNT belongs to the Security industry, which currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 34.59% so far this year, so FTNT is performing better in this area.
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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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Fortinet (FTNT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 11.14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FTNT has returned about 74.75% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.40% on a year-to-date basis. This shows that Fortinet is outperforming its peers so far this year.
Looking more specifically, FTNT belongs to the Security industry, which currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 34.59% so far this year, so FTNT is performing better in this area.
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.