Fortinet (FTNT) Gains As Market Dips: What You Should Know

In the latest market close, Fortinet (FTNT) reached $98.60, with a +0.57% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.54% for the day. Elsewhere, the Dow saw a downswing of 0.53%, while the tech-heavy Nasdaq depreciated by 0.66%.Heading into today, shares of the network security company had gained 0.16% over the past month, lagging the Computer and Technology sector's gain of 3.76% and the S&P 500's gain of 1.5% in that time.The upcoming earnings release of Fortinet will be of great interest to investors. In that report, analysts expect Fortinet to post earnings of $0.60 per share. This would mark year-over-year growth of 17.65%. Alongside, our most recent consensus estimate is anticipating revenue of $1.59 billion, indicating a 12.61% upward movement from the same quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.23 per share and a revenue of $5.89 billion, signifying shifts of +36.81% and +11.02%, respectively, from the last year.Investors should also note any recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.5% higher. Fortinet presently features a Zacks Rank of #1 (Strong Buy).Valuation is also important, so investors should note that Fortinet has a Forward P/E ratio of 44 right now. This expresses a premium compared to the average Forward P/E of 35.06 of its industry.It is also worth noting that FTNT currently has a PEG ratio of 2.41. 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. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.44.The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.The Zacks Industry Rank is ordered 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.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks