Fortinet (FTNT) closed the most recent trading day at $88.15, moving +0.17% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.57%. Elsewhere, the Dow saw a downswing of 0.84%, while the tech-heavy Nasdaq depreciated by 2.15%.

Shares of the network security company have depreciated by 8.37% over the course of the past month, outperforming the Computer and Technology sector's loss of 16.01% and the S&P 500's loss of 12.16%.

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 May 7, 2025. The company is expected to report EPS of $0.53, up 23.26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.54 billion, up 13.52% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.46 per share and revenue of $6.76 billion, indicating changes of +3.8% and +13.49%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Fortinet. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Fortinet is currently a Zacks Rank #3 (Hold).

Digging into valuation, Fortinet currently has a Forward P/E ratio of 35.84. This signifies a discount in comparison to the average Forward P/E of 52.97 for its industry.

We can also see that FTNT currently has a PEG ratio of 2.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Security industry had an average PEG ratio of 2.75.

The Security industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 147, this industry ranks in the bottom 41% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Fortinet, Inc. (FTNT) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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