Analysts on Wall Street project that Fortinet (FTNT Quick QuoteFTNT - Free Report) will announce quarterly earnings of $0.60 per share in its forthcoming report, representing an increase of 17.7% year over year. Revenues are projected to reach $1.59 billion, increasing 12.6% from the same quarter last year.

The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

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.

Analysts expect 'Revenue- Services' to come in at $1.08 billion. The estimate points to a change of +16% from the year-ago quarter.

The consensus among analysts is that 'Revenue- Total Product' will reach $517.66 million. The estimate indicates a year-over-year change of +6.1%.

Analysts forecast 'Revenue- Europe Middle East and Africa' to reach $633.06 million. The estimate indicates a year-over-year change of +10%.

Analysts predict that the 'Geographic revenues- Total Americas' will reach $649.99 million. The estimate points to a change of +14.2% from the year-ago quarter.

The average prediction of analysts places 'Revenue- Asia Pacific and Japan' at $311.79 million. The estimate suggests a change of +15.3% year over year.

The collective assessment of analysts points to an estimated 'Total billings (Non-GAAP)' of $1.95 billion. Compared to the present estimate, the company reported $1.86 billion in the same quarter last year.

The consensus estimate for 'Total deferred revenue' stands at $6.38 billion. Compared to the current estimate, the company reported $5.74 billion in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Gross profit- Product Non-GAAP' will likely reach $336.71 million. Compared to the current estimate, the company reported $293.40 million in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Gross profit- Service Non-GAAP' should arrive at $940.19 million. Compared to the current estimate, the company reported $816.80 million in the same quarter of the previous year.

According to the collective judgment of analysts, 'Gross profit- Product' should come in at $329.50 million. Compared to the present estimate, the company reported $290.90 million in the same quarter last year.

It is projected by analysts that the 'Gross profit- Services' will reach $936.59 million. The estimate compares to the year-ago value of $808.30 million.

View all Key Company Metrics for Fortinet here>>>

Over the past month, Fortinet shares have recorded returns of +3.5% versus the Zacks S&P 500 composite's +2.7% change. Based on its Zacks Rank #1 (Strong Buy), FTNT will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>