Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. 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 625 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 10.01% 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 90.09% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 13.40%. As we can see, Fortinet is performing better than its sector in the calendar year.
To break things down more, FTNT belongs to the Security industry, a group that currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 43.22% so far this year, so FTNT is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track FTNT. The stock will be looking to continue its solid performance.