Fortinet (FTNT) closed the most recent trading day at $158.10, moving -1.41% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.89%. Elsewhere, the Dow saw an upswing of 0.74%, while the tech-heavy Nasdaq appreciated by 1.29%.
Shares of the network security company witnessed a gain of 10.3% over the previous month, beating the performance of the Computer and Technology sector with its loss of 6.6%, and the S&P 500's loss of 0.63%.
Analysts and investors alike will be keeping a close eye on the performance of Fortinet in its upcoming earnings disclosure. The company's earnings report is set to go public on July 29, 2026. It is anticipated that the company will report an EPS of $0.75, marking a 17.19% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.88 billion, indicating a 15.44% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $3.15 per share and a revenue of $7.8 billion, demonstrating changes of +14.13% and +14.67%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Fortinet. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.68% higher. At present, Fortinet boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Fortinet is presently being traded at a Forward P/E ratio of 50.85. This expresses no noticeable deviation compared to the average Forward P/E of 50.85 of its industry.
We can additionally observe that FTNT currently boasts a PEG ratio of 3.87. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Security industry stood at 3.24 at the close of the market yesterday.
The Security industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 40, finds itself in the top 17% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant 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 Report
This article originally published on Zacks Investment Research (zacks.com).