Fortinet Gains 1.25% as Investors Look Ahead to Earnings

Fortinet closed at $180.95, up 1.25% from the previous session. Its gain exceeded the S&P 500's 0.73% rise, while the Dow added 0.49% and the Nasdaq rose 1.19%.

The shares had gained 14.3% over the previous month, according to the article, ahead of gains of 6.36% for the Computer and Technology sector and 0.55% for the S&P 500.

Investors are watching for Fortinet's forthcoming earnings report. Zacks estimates earnings of $0.86 per share, up 16.22% from the year-earlier quarter, and revenue of $2.06 billion, up 19.44%.

For the full year, Zacks consensus estimates call for earnings of $3.42 per share and revenue of $8.12 billion. Those figures would represent increases of 23.91% and 19.37%, respectively, from the prior year.

Zacks reported Fortinet's forward price-to-earnings ratio at 52.19, below the Security industry's 54.15 average. Its consensus estimate for earnings per share had risen 0.8% over the past month.