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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Fortinet is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 14.70% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, FTNT has returned 7.23% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 3.64% on average. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FTNT belongs to the Security industry, which includes 10 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, stocks in this group have gained 4.59% this year, meaning that FTNT is performing better in terms of year-to-date returns.
FTNT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.