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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Fortinet is a member of our Computer and Technology group, which includes 658 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 6.04% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FTNT has returned 56.19% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -4.52% on a year-to-date basis. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, FTNT is a member of the Security industry, which includes 12 individual companies and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 19.25% this year, meaning that FTNT is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to FTNT as it looks to continue its solid performance.
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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fortinet (FTNT - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Fortinet is a member of our Computer and Technology group, which includes 658 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past 90 days, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 6.04% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FTNT has returned 56.19% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -4.52% on a year-to-date basis. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, FTNT is a member of the Security industry, which includes 12 individual companies and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 19.25% this year, meaning that FTNT is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to FTNT as it looks to continue its solid performance.