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Fortinet (FTNT) Stock Moves -0.19%: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $105.44, marking a -0.19% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.52%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, lost 1.4%.
Heading into today, shares of the network security company had gained 4.65% over the past month, lagging the Computer and Technology sector's gain of 13.6% and the S&P 500's gain of 13.35% in that time.
FTNT will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2020. In that report, analysts expect FTNT to post earnings of $0.51 per share. This would mark year-over-year growth of 10.87%. Meanwhile, our latest consensus estimate is calling for revenue of $566.44 million, up 19.86% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.60 per share and revenue of $2.52 billion. These results would represent year-over-year changes of +5.26% and +16.78%, respectively.
Investors might also notice recent changes to analyst estimates for FTNT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.17% lower within the past month. FTNT is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FTNT's current valuation metrics, including its Forward P/E ratio of 40.58. Its industry sports an average Forward P/E of 42.54, so we one might conclude that FTNT is trading at a discount comparatively.
It is also worth noting that FTNT currently has a PEG ratio of 2.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Security stocks are, on average, holding a PEG ratio of 2.63 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.
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Fortinet (FTNT) Stock Moves -0.19%: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $105.44, marking a -0.19% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.52%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, lost 1.4%.
Heading into today, shares of the network security company had gained 4.65% over the past month, lagging the Computer and Technology sector's gain of 13.6% and the S&P 500's gain of 13.35% in that time.
FTNT will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2020. In that report, analysts expect FTNT to post earnings of $0.51 per share. This would mark year-over-year growth of 10.87%. Meanwhile, our latest consensus estimate is calling for revenue of $566.44 million, up 19.86% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.60 per share and revenue of $2.52 billion. These results would represent year-over-year changes of +5.26% and +16.78%, respectively.
Investors might also notice recent changes to analyst estimates for FTNT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.17% lower within the past month. FTNT is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FTNT's current valuation metrics, including its Forward P/E ratio of 40.58. Its industry sports an average Forward P/E of 42.54, so we one might conclude that FTNT is trading at a discount comparatively.
It is also worth noting that FTNT currently has a PEG ratio of 2.9. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Security stocks are, on average, holding a PEG ratio of 2.63 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.