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Insights Into Fortinet (FTNT) Q4: Wall Street Projections for Key Metrics
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Analysts on Wall Street project that Fortinet (FTNT - Free Report) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 2.3% year over year. Revenues are projected to reach $1.41 billion, increasing 9.9% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Fortinet metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Total Product' will reach $496.29 million. The estimate suggests a change of -8.1% year over year.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $913.21 million. The estimate points to a change of +22.9% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Europe Middle East and Africa' should come in at $547.25 million. The estimate points to a change of +7.3% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Asia Pacific and Japan' at $290.21 million. The estimate indicates a change of +15.3% from the prior-year quarter.
The consensus estimate for 'Total billings (Non-GAAP)' stands at $1.64 billion. Compared to the present estimate, the company reported $1.72 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Gross profit- Product' will likely reach $296.69 million. The estimate compares to the year-ago value of $350.20 million.
It is projected by analysts that the 'Gross profit- Services' will reach $767.97 million. Compared to the current estimate, the company reported $635.50 million in the same quarter of the previous year.
Over the past month, shares of Fortinet have returned +11.5% versus the Zacks S&P 500 composite's +1.6% change. Currently, FTNT carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Insights Into Fortinet (FTNT) Q4: Wall Street Projections for Key Metrics
Analysts on Wall Street project that Fortinet (FTNT - Free Report) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 2.3% year over year. Revenues are projected to reach $1.41 billion, increasing 9.9% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Fortinet metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Total Product' will reach $496.29 million. The estimate suggests a change of -8.1% year over year.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $913.21 million. The estimate points to a change of +22.9% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Europe Middle East and Africa' should come in at $547.25 million. The estimate points to a change of +7.3% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Asia Pacific and Japan' at $290.21 million. The estimate indicates a change of +15.3% from the prior-year quarter.
The consensus estimate for 'Total billings (Non-GAAP)' stands at $1.64 billion. Compared to the present estimate, the company reported $1.72 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Gross profit- Product' will likely reach $296.69 million. The estimate compares to the year-ago value of $350.20 million.
It is projected by analysts that the 'Gross profit- Services' will reach $767.97 million. Compared to the current estimate, the company reported $635.50 million in the same quarter of the previous year.
View all Key Company Metrics for Fortinet here>>>
Over the past month, shares of Fortinet have returned +11.5% versus the Zacks S&P 500 composite's +1.6% change. Currently, FTNT carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>