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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Fortinet (FTNT) one of those stocks right now? 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 the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. FTNT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for FTNT's full-year earnings has moved 0.22% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, FTNT has moved about 31.57% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 1.80%. As we can see, Fortinet is performing better than its sector in the calendar year.

Looking more specifically, FTNT belongs to the Security industry, which includes 10 individual stocks and currently sits at #57 in the Zacks Industry Rank. This group has gained an average of 4.18% so far this year, so FTNT is performing better in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to FTNT as it looks to continue its solid performance.


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