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Unveiling Fortinet (FTNT) Q3 Outlook: Wall Street Estimates for Key Metrics
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Wall Street analysts expect Fortinet (FTNT - Free Report) to post quarterly earnings of $0.51 per share in its upcoming report, which indicates a year-over-year increase of 24.4%. Revenues are expected to be $1.48 billion, up 10.7% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% 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 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.
That said, let's delve into the average estimates of some Fortinet metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenue- Total Product' of $471.69 million. The estimate points to a change of +1.2% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $1.01 billion. The estimate points to a change of +15.8% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Europe Middle East and Africa' at $569.45 million. The estimate suggests a change of +11.2% year over year.
According to the collective judgment of analysts, 'Geographic revenues- Total Americas' should come in at $603.63 million. The estimate indicates a change of +10.6% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Asia Pacific and Japan' will reach $296.44 million. The estimate indicates a year-over-year change of +7.1%.
Analysts expect 'Total billings (Non-GAAP)' to come in at $1.57 billion. The estimate compares to the year-ago value of $1.49 billion.
The consensus estimate for 'Total deferred revenue' stands at $5.98 billion. The estimate is in contrast to the year-ago figure of $5.29 billion.
It is projected by analysts that the 'Gross profit- Product Non-GAAP' will reach $301.21 million. Compared to the present estimate, the company reported $269.60 million in the same quarter last year.
Analysts forecast 'Gross profit- Service Non-GAAP' to reach $876.33 million. Compared to the present estimate, the company reported $757.20 million in the same quarter last year.
Analysts' assessment points toward 'Gross profit- Product' reaching $298.95 million. The estimate compares to the year-ago value of $267.60 million.
Analysts predict that the 'Gross profit- Services' will reach $861.34 million. Compared to the current estimate, the company reported $749.30 million in the same quarter of the previous year.
Over the past month, shares of Fortinet have returned +1% versus the Zacks S&P 500 composite's +0.4% change. Currently, FTNT carries a Zacks Rank #2 (Buy), suggesting that it may outperform 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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Unveiling Fortinet (FTNT) Q3 Outlook: Wall Street Estimates for Key Metrics
Wall Street analysts expect Fortinet (FTNT - Free Report) to post quarterly earnings of $0.51 per share in its upcoming report, which indicates a year-over-year increase of 24.4%. Revenues are expected to be $1.48 billion, up 10.7% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% 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 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.
That said, let's delve into the average estimates of some Fortinet metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenue- Total Product' of $471.69 million. The estimate points to a change of +1.2% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $1.01 billion. The estimate points to a change of +15.8% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Europe Middle East and Africa' at $569.45 million. The estimate suggests a change of +11.2% year over year.
According to the collective judgment of analysts, 'Geographic revenues- Total Americas' should come in at $603.63 million. The estimate indicates a change of +10.6% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Asia Pacific and Japan' will reach $296.44 million. The estimate indicates a year-over-year change of +7.1%.
Analysts expect 'Total billings (Non-GAAP)' to come in at $1.57 billion. The estimate compares to the year-ago value of $1.49 billion.
The consensus estimate for 'Total deferred revenue' stands at $5.98 billion. The estimate is in contrast to the year-ago figure of $5.29 billion.
It is projected by analysts that the 'Gross profit- Product Non-GAAP' will reach $301.21 million. Compared to the present estimate, the company reported $269.60 million in the same quarter last year.
Analysts forecast 'Gross profit- Service Non-GAAP' to reach $876.33 million. Compared to the present estimate, the company reported $757.20 million in the same quarter last year.
Analysts' assessment points toward 'Gross profit- Product' reaching $298.95 million. The estimate compares to the year-ago value of $267.60 million.
Analysts predict that the 'Gross profit- Services' will reach $861.34 million. Compared to the current estimate, the company reported $749.30 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 +1% versus the Zacks S&P 500 composite's +0.4% change. Currently, FTNT carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>