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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. 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? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group's stocks.
Fortinet is a member of our Computer and Technology group, which includes 642 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.49% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FTNT has returned about 20.96% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 17.18% on average. This shows that Fortinet is outperforming its peers so far this year.
To break things down more, FTNT belongs to the Security industry, a group that includes 11 individual companies and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have gained about 24.71% so far this year, so FTNT is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on FTNT as it attempts to continue its solid performance.
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Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. 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? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group's stocks.
Fortinet is a member of our Computer and Technology group, which includes 642 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.49% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FTNT has returned about 20.96% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 17.18% on average. This shows that Fortinet is outperforming its peers so far this year.
To break things down more, FTNT belongs to the Security industry, a group that includes 11 individual companies and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have gained about 24.71% so far this year, so FTNT is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on FTNT as it attempts to continue its solid performance.