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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers 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 one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 4.49% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FTNT has moved about 24.31% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 22.47%. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FTNT belongs to the Security industry, a group that includes 10 individual stocks and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have gained 21.74% this year, meaning that FTNT is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track FTNT. The stock will be looking to continue its solid performance.
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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers 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 one of 638 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 4.49% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FTNT has moved about 24.31% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 22.47%. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FTNT belongs to the Security industry, a group that includes 10 individual stocks and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have gained 21.74% this year, meaning that FTNT is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track FTNT. The stock will be looking to continue its solid performance.