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. Fortinet (FTNT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of FTNT and the rest of the Computer and Technology group’s stocks.

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Fortinet is a member of the Computer and Technology sector. This group includes 646 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 2.95% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, FTNT has gained about 119.98% so far this year. In comparison, Computer and Technology companies have returned an average of 23.63%. This means that Fortinet is outperforming the sector as a whole this year.

Looking more specifically, FTNT belongs to the Security industry, a group that includes 10 individual stocks and currently sits at #92 in the Zacks Industry Rank. Stocks in this group have gained about 41.54% so far this year, so FTNT is performing better this group in terms of year-to-date returns.

FTNT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.