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Fortinet (FTNT) Stock Moves -0.05%: What You Should Know
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Fortinet (FTNT - Free Report) closed at $59.72 in the latest trading session, marking a -0.05% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Shares of the network security company have appreciated by 2.82% over the course of the past month, underperforming the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. In that report, analysts expect Fortinet to post earnings of $0.41 per share. This would mark year-over-year growth of 7.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, up 8.6% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.75 per share and a revenue of $5.79 billion, representing changes of +7.36% and +9.22%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.39% higher. As of now, Fortinet holds a Zacks Rank of #3 (Hold).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 34.1. Its industry sports an average Forward P/E of 29.5, so one might conclude that Fortinet is trading at a premium comparatively.
Meanwhile, FTNT's PEG ratio is currently 2.44. 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 industry had an average PEG ratio of 1.74 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 64, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Fortinet (FTNT) Stock Moves -0.05%: What You Should Know
Fortinet (FTNT - Free Report) closed at $59.72 in the latest trading session, marking a -0.05% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Shares of the network security company have appreciated by 2.82% over the course of the past month, underperforming the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51%.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. In that report, analysts expect Fortinet to post earnings of $0.41 per share. This would mark year-over-year growth of 7.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, up 8.6% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.75 per share and a revenue of $5.79 billion, representing changes of +7.36% and +9.22%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.39% higher. As of now, Fortinet holds a Zacks Rank of #3 (Hold).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 34.1. Its industry sports an average Forward P/E of 29.5, so one might conclude that Fortinet is trading at a premium comparatively.
Meanwhile, FTNT's PEG ratio is currently 2.44. 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 industry had an average PEG ratio of 1.74 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 64, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.