Yahoo Finance Fortinet (FTNT) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Fortinet (FTNT) standing at $58.56, reflecting a +1.07% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the network security company had lost 4.91% over the past month, lagging the Computer and Technology sector's gain of 6.77% and the S&P 500's gain of 3.15% in that time.
Investors will be eagerly watching for the performance of Fortinet in its upcoming earnings disclosure. The company is expected to report EPS of $0.41, up 7.89% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.4 billion, indicating an 8.6% increase compared to the same quarter of the previous year.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.75 per share and revenue of $5.79 billion. These results would represent year-over-year changes of +7.36% and +9.22%, respectively.
Any recent changes to analyst estimates for Fortinet should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% higher. Fortinet presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 33.07. This valuation marks a premium compared to its industry's average Forward P/E of 30.06.
Also, we should mention that FTNT has a PEG ratio of 2.37. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. FTNT's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Fortinet, Inc. (FTNT) : Free Stock Analysis Report
