Is Fortinet (FTNT) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Fortinet (FTNT) been one of those stocks this year? 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 649 different companies and currently sits at #7 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Fortinet is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FTNT's full-year earnings has moved 4.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FTNT has gained about 23% so far this year. In comparison, Computer and Technology companies have returned an average of 14.7%. This means that Fortinet is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Autohome Inc. (ATHM). The stock has returned 17.5% year-to-date.
Over the past three months, Autohome Inc.'s consensus EPS estimate for the current year has increased 10.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Fortinet is a member of the Security industry, which includes 7 individual companies and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have gained 17.4% this year, meaning that FTNT is performing better in terms of year-to-date returns.
Autohome Inc. however, belongs to the Internet - Services industry. Currently, this 44-stock industry is ranked #148. The industry has moved +8.7% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Fortinet and Autohome Inc. These stocks will be looking to continue their solid performance.
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Fortinet, Inc. (FTNT) : Free Stock Analysis Report
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