Wall Street analysts expect Fortinet (FTNT Quick QuoteFTNT - Free Report) to post quarterly earnings of $0.53 per share in its upcoming report, which indicates a year-over-year increase of 23.3%. Revenues are expected to be $1.54 billion, up 13.5% from the year-ago quarter.

Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions 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 forecast 'Revenue- Services' to reach $1.09 billion. The estimate indicates a year-over-year change of +15.6%.

Based on the collective assessment of analysts, 'Revenue- Product' should arrive at $443.39 million. The estimate indicates a year-over-year change of +8.4%.

The collective assessment of analysts points to an estimated 'Revenue- Europe Middle East and Africa' of $600.09 million. The estimate suggests a change of +11.3% year over year.

The combined assessment of analysts suggests that 'Geographic revenues- Total Americas' will likely reach $635.09 million. The estimate indicates a change of +14% from the prior-year quarter.

Analysts predict that the 'Revenue- Asia Pacific and Japan' will reach $308.33 million. The estimate indicates a change of +20% from the prior-year quarter.

The consensus estimate for 'Total billings (Non-GAAP)' stands at $1.57 billion. The estimate is in contrast to the year-ago figure of $1.41 billion.

The average prediction of analysts places 'Total deferred revenue' at $6.39 billion. Compared to the present estimate, the company reported $5.79 billion in the same quarter last year.

Analysts' assessment points toward 'Gross profit- Product Non-GAAP' reaching $279.69 million. The estimate compares to the year-ago value of $227.60 million.

It is projected by analysts that the 'Gross profit- Service Non-GAAP' will reach $958.33 million. The estimate compares to the year-ago value of $829.80 million.

According to the collective judgment of analysts, 'Gross profit- Product' should come in at $274.11 million. Compared to the present estimate, the company reported $226.10 million in the same quarter last year.

The consensus among analysts is that 'Gross profit- Services' will reach $956.03 million. The estimate compares to the year-ago value of $822.50 million.

View all Key Company Metrics for Fortinet here>>>

Over the past month, shares of Fortinet have returned +16.5% versus the Zacks S&P 500 composite's -0.5% change. Currently, FTNT carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>