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Fortinet (FTNT - Free Report) ended the recent trading session at $55.35, demonstrating a +0.56% swing from the preceding day's closing price. This change lagged the S&P 500's 1.37% gain on the day. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 1.38%.
The network security company's shares have seen an increase of 7.25% over the last month, surpassing the Computer and Technology sector's gain of 4.65% and the S&P 500's gain of 5.37%.
Market participants will be closely following the financial results of Fortinet in its upcoming release. It is anticipated that the company will report an EPS of $0.43, marking a 2.27% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 9.67% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $5.3 billion. These totals would mark changes of +31.09% and +19.91%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Fortinet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 35.23. Its industry sports an average Forward P/E of 37.81, so one might conclude that Fortinet is trading at a discount comparatively.
One should further note that FTNT currently holds a PEG ratio of 2.04. 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. The average PEG ratio for the Internet - Software industry stood at 1.73 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.
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Fortinet (FTNT) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Fortinet (FTNT - Free Report) ended the recent trading session at $55.35, demonstrating a +0.56% swing from the preceding day's closing price. This change lagged the S&P 500's 1.37% gain on the day. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 1.38%.
The network security company's shares have seen an increase of 7.25% over the last month, surpassing the Computer and Technology sector's gain of 4.65% and the S&P 500's gain of 5.37%.
Market participants will be closely following the financial results of Fortinet in its upcoming release. It is anticipated that the company will report an EPS of $0.43, marking a 2.27% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 9.67% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $5.3 billion. These totals would mark changes of +31.09% and +19.91%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Fortinet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. Fortinet is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 35.23. Its industry sports an average Forward P/E of 37.81, so one might conclude that Fortinet is trading at a discount comparatively.
One should further note that FTNT currently holds a PEG ratio of 2.04. 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. The average PEG ratio for the Internet - Software industry stood at 1.73 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 26, positioning it in the top 11% 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.
To follow FTNT in the coming trading sessions, be sure to utilize Zacks.com.