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Fortinet (FTNT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Fortinet (FTNT - Free Report) closed at $84.71, marking a +0.77% move from the previous day. This move outpaced the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq added 0.59%.
Heading into today, shares of the network security company had gained 9.72% over the past month, outpacing the Computer and Technology sector's gain of 5.19% and the S&P 500's gain of 4.04% in that time.
Investors will be hoping for strength from FTNT as it approaches its next earnings release, which is expected to be August 1, 2019. On that day, FTNT is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 21.95%. Meanwhile, our latest consensus estimate is calling for revenue of $510.89 million, up 15.77% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $2.09 billion. These results would represent year-over-year changes of +15.76% and +15.77%, respectively.
It is also important to note the recent changes to analyst estimates for FTNT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. FTNT is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, FTNT is holding a Forward P/E ratio of 39.4. This valuation marks a discount compared to its industry's average Forward P/E of 40.34.
Investors should also note that FTNT has a PEG ratio of 2.63 right now. 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 Security was holding an average PEG ratio of 2.43 at yesterday's closing price.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Fortinet (FTNT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Fortinet (FTNT - Free Report) closed at $84.71, marking a +0.77% move from the previous day. This move outpaced the S&P 500's daily gain of 0.46%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq added 0.59%.
Heading into today, shares of the network security company had gained 9.72% over the past month, outpacing the Computer and Technology sector's gain of 5.19% and the S&P 500's gain of 4.04% in that time.
Investors will be hoping for strength from FTNT as it approaches its next earnings release, which is expected to be August 1, 2019. On that day, FTNT is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 21.95%. Meanwhile, our latest consensus estimate is calling for revenue of $510.89 million, up 15.77% from the prior-year quarter.
FTNT's full-year Zacks Consensus Estimates are calling for earnings of $2.13 per share and revenue of $2.09 billion. These results would represent year-over-year changes of +15.76% and +15.77%, respectively.
It is also important to note the recent changes to analyst estimates for FTNT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. FTNT is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, FTNT is holding a Forward P/E ratio of 39.4. This valuation marks a discount compared to its industry's average Forward P/E of 40.34.
Investors should also note that FTNT has a PEG ratio of 2.63 right now. 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 Security was holding an average PEG ratio of 2.43 at yesterday's closing price.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.