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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fortinet (FTNT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Fortinet is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FTNT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 6.02% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FTNT has returned about 30.33% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 3.88% on a year-to-date basis. This means that Fortinet is outperforming the sector as a whole this year.
To break things down more, FTNT belongs to the Security industry. Stocks in this group have gained about 0.39% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
FTNT will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fortinet (FTNT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Fortinet is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FTNT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 6.02% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FTNT has returned about 30.33% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 3.88% on a year-to-date basis. This means that Fortinet is outperforming the sector as a whole this year.
To break things down more, FTNT belongs to the Security industry. Stocks in this group have gained about 0.39% so far this year, so FTNT is performing better this group in terms of year-to-date returns.
FTNT will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.