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Fortinet (FTNT) Stock Moves -0.54%: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $57.45, marking a -0.54% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.47% for the day. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Coming into today, shares of the network security company had gained 9.85% in the past month. In that same time, the Computer and Technology sector gained 4.98%, while the S&P 500 gained 5.77%.
Analysts and investors alike will be keeping a close eye on the performance of Fortinet in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, down 2.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.41 billion, up 9.67% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.56 per share and a revenue of $5.3 billion, signifying shifts of +31.09% and +19.91%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Fortinet possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Fortinet is currently exchanging hands at a Forward P/E ratio of 36.97. This indicates a discount in contrast to its industry's Forward P/E of 39.68.
Investors should also note that FTNT has a PEG ratio of 2.14 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.81.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Fortinet (FTNT) Stock Moves -0.54%: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $57.45, marking a -0.54% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.47% for the day. At the same time, the Dow lost 1.27%, and the tech-heavy Nasdaq lost 1.5%.
Coming into today, shares of the network security company had gained 9.85% in the past month. In that same time, the Computer and Technology sector gained 4.98%, while the S&P 500 gained 5.77%.
Analysts and investors alike will be keeping a close eye on the performance of Fortinet in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, down 2.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.41 billion, up 9.67% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.56 per share and a revenue of $5.3 billion, signifying shifts of +31.09% and +19.91%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Fortinet possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Fortinet is currently exchanging hands at a Forward P/E ratio of 36.97. This indicates a discount in contrast to its industry's Forward P/E of 39.68.
Investors should also note that FTNT has a PEG ratio of 2.14 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.81.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 29, positioning it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.