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Countdown to Fortinet (FTNT) Q1 Earnings: Wall Street Forecasts for Key Metrics
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The upcoming report from Fortinet (FTNT - Free Report) is expected to reveal quarterly earnings of $0.61 per share, indicating an increase of 5.2% compared to the year-ago period. Analysts forecast revenues of $1.73 billion, representing an increase of 12.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.4% 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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Fortinet metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue- Services' to come in at $1.20 billion. The estimate indicates a year-over-year change of +11%.
According to the collective judgment of analysts, 'Revenue- Product' should come in at $532.52 million. The estimate indicates a year-over-year change of +16%.
Based on the collective assessment of analysts, 'Revenue- Services- Security subscription' should arrive at $693.45 million. The estimate indicates a change of +11.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Services- Technical support and other' reaching $499.90 million. The estimate points to a change of +9.3% from the year-ago quarter.
It is projected by analysts that the 'Total billings (Non-GAAP)' will reach $1.82 billion. Compared to the present estimate, the company reported $1.60 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Total deferred revenue' will likely reach $7.20 billion. Compared to the current estimate, the company reported $6.42 billion in the same quarter of the previous year.
The average prediction of analysts places 'Gross profit- Product Non-GAAP' at $350.10 million. Compared to the present estimate, the company reported $311.00 million in the same quarter last year.
Analysts predict that the 'Gross profit- Service Non-GAAP' will reach $1.05 billion. The estimate compares to the year-ago value of $949.30 million.
The consensus among analysts is that 'Gross profit- Product' will reach $334.00 million. The estimate is in contrast to the year-ago figure of $309.20 million.
The collective assessment of analysts points to an estimated 'Gross profit- Services' of $1.04 billion. Compared to the present estimate, the company reported $937.40 million in the same quarter last year.
Fortinet shares have witnessed a change of +2.2% in the past month, in contrast to the Zacks S&P 500 composite's +10.5% move. With a Zacks Rank #3 (Hold), FTNT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to Fortinet (FTNT) Q1 Earnings: Wall Street Forecasts for Key Metrics
The upcoming report from Fortinet (FTNT - Free Report) is expected to reveal quarterly earnings of $0.61 per share, indicating an increase of 5.2% compared to the year-ago period. Analysts forecast revenues of $1.73 billion, representing an increase of 12.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.4% 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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Fortinet metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue- Services' to come in at $1.20 billion. The estimate indicates a year-over-year change of +11%.
According to the collective judgment of analysts, 'Revenue- Product' should come in at $532.52 million. The estimate indicates a year-over-year change of +16%.
Based on the collective assessment of analysts, 'Revenue- Services- Security subscription' should arrive at $693.45 million. The estimate indicates a change of +11.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Services- Technical support and other' reaching $499.90 million. The estimate points to a change of +9.3% from the year-ago quarter.
It is projected by analysts that the 'Total billings (Non-GAAP)' will reach $1.82 billion. Compared to the present estimate, the company reported $1.60 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Total deferred revenue' will likely reach $7.20 billion. Compared to the current estimate, the company reported $6.42 billion in the same quarter of the previous year.
The average prediction of analysts places 'Gross profit- Product Non-GAAP' at $350.10 million. Compared to the present estimate, the company reported $311.00 million in the same quarter last year.
Analysts predict that the 'Gross profit- Service Non-GAAP' will reach $1.05 billion. The estimate compares to the year-ago value of $949.30 million.
The consensus among analysts is that 'Gross profit- Product' will reach $334.00 million. The estimate is in contrast to the year-ago figure of $309.20 million.
The collective assessment of analysts points to an estimated 'Gross profit- Services' of $1.04 billion. Compared to the present estimate, the company reported $937.40 million in the same quarter last year.
View all Key Company Metrics for Fortinet here>>>Fortinet shares have witnessed a change of +2.2% in the past month, in contrast to the Zacks S&P 500 composite's +10.5% move. With a Zacks Rank #3 (Hold), FTNT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .