Fortinet (FTNT) Rises As Market Takes a Dip: Key Facts

Fortinet (FTNT) closed the most recent trading day at $94.85, moving +1.6% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.09% for the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.1%.Coming into today, shares of the network security company had gained 0.98% in the past month. In that same time, the Computer and Technology sector gained 3.04%, while the S&P 500 lost 0.29%.The investment community will be paying close attention to the earnings performance of Fortinet in its upcoming release. On that day, Fortinet is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 17.65%. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 12.61% growth compared to the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.23 per share and a revenue of $5.89 billion, indicating changes of +36.81% and +11.02%, respectively, from the former year.It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.44% upward. Fortinet currently has a Zacks Rank of #1 (Strong Buy).In the context of valuation, Fortinet is at present trading with a Forward P/E ratio of 41.9. Its industry sports an average Forward P/E of 32.61, so one might conclude that Fortinet is trading at a premium comparatively.We can additionally observe that FTNT currently boasts a PEG ratio of 2.29. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry currently had an average PEG ratio of 2.29 as of yesterday's close.The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.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