We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fortinet (FTNT) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Fortinet (FTNT - Free Report) closed at $63.17 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the network security company had gained 4.1% over the past month, outpacing the Computer and Technology sector's gain of 1.88% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $0.37, up 12.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 17.36% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.51 per share and revenue of $5.4 billion. These results would represent year-over-year changes of +26.89% and +22.24%, respectively.
Investors might also notice recent changes to analyst estimates for Fortinet. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 41.23. For comparison, its industry has an average Forward P/E of 39.25, which means Fortinet is trading at a premium to the group.
It is also worth noting that FTNT currently has a PEG ratio of 2.25. 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. The Internet - Software was holding an average PEG ratio of 1.65 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fortinet (FTNT) Gains As Market Dips: What You Should Know
Fortinet (FTNT - Free Report) closed at $63.17 in the latest trading session, marking a +1.51% move from the prior day. This move outpaced the S&P 500's daily loss of 0.32%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the network security company had gained 4.1% over the past month, outpacing the Computer and Technology sector's gain of 1.88% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Fortinet as it approaches its next earnings report date. The company is expected to report EPS of $0.37, up 12.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 17.36% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $1.51 per share and revenue of $5.4 billion. These results would represent year-over-year changes of +26.89% and +22.24%, respectively.
Investors might also notice recent changes to analyst estimates for Fortinet. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortinet is holding a Forward P/E ratio of 41.23. For comparison, its industry has an average Forward P/E of 39.25, which means Fortinet is trading at a premium to the group.
It is also worth noting that FTNT currently has a PEG ratio of 2.25. 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. The Internet - Software was holding an average PEG ratio of 1.65 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.