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Fortinet (FTNT) Stock Moves -0.68%: What You Should Know
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In the latest market close, Fortinet (FTNT - Free Report) reached $77.48, with a -0.68% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.96%. Elsewhere, the Dow saw a downswing of 0.94%, while the tech-heavy Nasdaq depreciated by 1.18%.
Prior to today's trading, shares of the network security company had gained 3.8% over the past month. This has lagged the Computer and Technology sector's gain of 7.35% and the S&P 500's gain of 4.3% in that time.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. The company is expected to report EPS of $0.51, up 24.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.48 billion, up 10.7% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $5.85 billion. These totals would mark changes of +24.54% and +10.22%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.01% upward. Right now, Fortinet possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 38.43. Its industry sports an average Forward P/E of 30.53, so one might conclude that Fortinet is trading at a premium comparatively.
Also, we should mention that FTNT has a PEG ratio of 2.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 2.03.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Fortinet (FTNT) Stock Moves -0.68%: What You Should Know
In the latest market close, Fortinet (FTNT - Free Report) reached $77.48, with a -0.68% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.96%. Elsewhere, the Dow saw a downswing of 0.94%, while the tech-heavy Nasdaq depreciated by 1.18%.
Prior to today's trading, shares of the network security company had gained 3.8% over the past month. This has lagged the Computer and Technology sector's gain of 7.35% and the S&P 500's gain of 4.3% in that time.
The investment community will be closely monitoring the performance of Fortinet in its forthcoming earnings report. The company is expected to report EPS of $0.51, up 24.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.48 billion, up 10.7% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.03 per share and revenue of $5.85 billion. These totals would mark changes of +24.54% and +10.22%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.01% upward. Right now, Fortinet possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Fortinet currently has a Forward P/E ratio of 38.43. Its industry sports an average Forward P/E of 30.53, so one might conclude that Fortinet is trading at a premium comparatively.
Also, we should mention that FTNT has a PEG ratio of 2.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 2.03.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.