Markets

Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of Fortinet (FTNT), but is the stock performing well in comparison to the rest of its sector peers? 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 645 different companies and currently sits at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, FTNT has returned 18.03% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.46% on a year-to-date basis. This means that Fortinet is outperforming the sector as a whole this year.

Looking more specifically, FTNT belongs to the Security industry, a group that includes 11 individual stocks and currently sits at #14 in the Zacks Industry Rank. Stocks in this group have gained about 18.94% so far this year, so FTNT is slightly underperforming its industry this group in terms of year-to-date returns.

FTNT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Fortinet, Inc. (FTNT): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

FTNT

Other Topics

Investing Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More