Fortinet (FTNT) Ascends But Remains Behind Market: Some Facts to Note

Company Performance - Fortinet's stock closed at $99.79, with a daily increase of +1.16%, underperforming the S&P 500's gain of 1.77% [1] - Over the past month, Fortinet's shares have decreased by 10.33%, while the Computer and Technology sector and the S&P 500 have lost 9.47% and 5.73%, respectively [1] Earnings Forecast - Fortinet is expected to report an EPS of$ 0.53, reflecting a 23.26% increase from the same quarter last year [2] - The projected revenue for Fortinet is $1.54 billion, which is a 13.52% rise compared to the previous year [2] Full-Year Estimates - The full-year Zacks Consensus Estimates predict earnings of$ 2.46 per share and revenue of $6.76 billion, indicating year-over-year growth of +3.8% and +13.49%, respectively [3] - Recent changes in analyst estimates for Fortinet are crucial as they often indicate short-term business trends [3] Zacks Rank and Valuation - Fortinet currently holds a Zacks Rank of 2 (Buy), with a consensus EPS projection that has increased by 1.29% in the last 30 days [5] - The company has a Forward P/E ratio of 40.17, which is lower than the industry average of 61.78, suggesting a valuation discount [5] Industry Context - Fortinet's PEG ratio stands at 3.09, which considers projected earnings growth alongside the P/E ratio [6] - The Security industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 82, placing it in the top 33% of over 250 industries [6][7]