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Fortinet (FTNT) Stock Moves -0.96%: What You Should Know
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Fortinet (FTNT - Free Report) closed at $95.16 in the latest trading session, marking a -0.96% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 1.19%.
Coming into today, shares of the network security company had gained 1.08% in the past month. In that same time, the Computer and Technology sector gained 4.8%, while the S&P 500 lost 0.36%.
The investment community will be paying close attention to the earnings performance of Fortinet in its upcoming release. The company is predicted to post an EPS of $0.60, indicating a 17.65% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.59 billion, showing a 12.59% escalation compared to the year-ago quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $5.89 billion. These results would represent year-over-year changes of +36.81% and +11.01%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.4% higher. Fortinet is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 43.12. This indicates a premium in contrast to its industry's Forward P/E of 32.55.
We can also see that FTNT currently has a PEG ratio of 2.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 2.34 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 23, positioning it in the top 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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 (FTNT) Stock Moves -0.96%: What You Should Know
Fortinet (FTNT - Free Report) closed at $95.16 in the latest trading session, marking a -0.96% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 1.19%.
Coming into today, shares of the network security company had gained 1.08% in the past month. In that same time, the Computer and Technology sector gained 4.8%, while the S&P 500 lost 0.36%.
The investment community will be paying close attention to the earnings performance of Fortinet in its upcoming release. The company is predicted to post an EPS of $0.60, indicating a 17.65% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.59 billion, showing a 12.59% escalation compared to the year-ago quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $5.89 billion. These results would represent year-over-year changes of +36.81% and +11.01%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.4% higher. Fortinet is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 43.12. This indicates a premium in contrast to its industry's Forward P/E of 32.55.
We can also see that FTNT currently has a PEG ratio of 2.36. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 2.34 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 23, positioning it in the top 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.