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Unlocking Q1 Potential of Fortinet (FTNT): Exploring Wall Street Estimates for Key Metrics

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The upcoming report from Fortinet (FTNT - Free Report) is expected to reveal quarterly earnings of $0.38 per share, indicating an increase of 11.8% compared to the year-ago period. Analysts forecast revenues of $1.33 billion, representing an increase of 5.7% year over year.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

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 use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

In light of this perspective, let's dive into the average estimates of certain Fortinet metrics that are commonly tracked and forecasted by Wall Street analysts.

The consensus estimate for 'Revenue- Total Product' stands at $416.57 million. The estimate indicates a year-over-year change of -16.8%.

Analysts forecast 'Revenue- Services' to reach $916.57 million. The estimate indicates a year-over-year change of +20.4%.

The average prediction of analysts places 'Revenue- Europe Middle East and Africa' at $506.08 million. The estimate indicates a year-over-year change of +5.8%.

It is projected by analysts that the 'Revenue- Asia Pacific and Japan' will reach $281.33 million. The estimate points to a change of +8% from the year-ago quarter.

The combined assessment of analysts suggests that 'Total billings (Non-GAAP)' will likely reach $1.43 billion. The estimate is in contrast to the year-ago figure of $1.50 billion.

Based on the collective assessment of analysts, 'Total deferred revenue' should arrive at $5.83 billion. Compared to the current estimate, the company reported $4.88 billion in the same quarter of the previous year.

Analysts predict that the 'Gross profit- Product' will reach $252.48 million. The estimate is in contrast to the year-ago figure of $307.10 million.

The collective assessment of analysts points to an estimated 'Gross profit- Services' of $761.64 million. Compared to the present estimate, the company reported $647.40 million in the same quarter last year.

View all Key Company Metrics for Fortinet here>>>

Over the past month, Fortinet shares have recorded returns of -6.1% versus the Zacks S&P 500 composite's -2% change. Based on its Zacks Rank #3 (Hold), FTNT will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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