Why Fortinet (FTNT) Outpaced the Stock Market Today

Group 1: Company Performance - Fortinet (FTNT) closed at $98.24, with a daily increase of +1.07%, outperforming the S&P 500's gain of 0.61% [1] - Over the previous month, Fortinet's shares experienced a loss of 0.62%, underperforming compared to the Computer and Technology sector's gain of 1.24% and the S&P 500's gain of 2.08% [1] Group 2: Upcoming Financial Results - Fortinet is set to announce its earnings on February 6, 2025, with projected EPS of$ 0.60, indicating a 17.65% increase year-over-year [2] - The consensus estimate for Fortinet's revenue is $1.59 billion, reflecting a 12.59% rise from the same quarter last year [2] Group 3: Analyst Estimates and Ratings - Recent changes to analyst estimates for Fortinet suggest a favorable outlook on the company's business health and profitability [3] - The Zacks Rank system currently rates Fortinet as 1 (Strong Buy), with a historical average annual return of +25% for 1 stocks since 1988 [5] Group 4: Valuation Metrics - Fortinet has a Forward P/E ratio of 40.74, which is a premium compared to its industry's Forward P/E of 29.01 [5] - The PEG ratio for Fortinet is currently 2.19, aligning with the average PEG ratio of the Internet - Software industry [6] Group 5: Industry Ranking - The Internet - Software industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 41, placing it in the top 17% of over 250 industries [6][7]