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Stay Ahead of the Game With Fortinet (FTNT) Q3 Earnings: Wall Street's Insights on Key Metrics
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The upcoming report from Fortinet (FTNT - Free Report) is expected to reveal quarterly earnings of $0.63 per share, indicating no change from the year-ago quarter. Analysts forecast revenues of $1.7 billion, representing an increase of 12.9% year over year.
Over the last 30 days, there has been a downward revision of 0.3% 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
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.
According to the collective judgment of analysts, 'Revenue- Services' should come in at $1.17 billion. The estimate suggests a change of +12.9% year over year.
Analysts predict that the 'Revenue- Product' will reach $532.95 million. The estimate indicates a year-over-year change of +12.5%.
The average prediction of analysts places 'Revenue- Europe Middle East and Africa' at $676.71 million. The estimate indicates a year-over-year change of +12.9%.
It is projected by analysts that the 'Geographic revenues- Americas' will reach $689.75 million. The estimate suggests a change of +10.5% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Asia Pacific and Japan' of $328.44 million. The estimate points to a change of +15.3% from the year-ago quarter.
The consensus estimate for 'Total billings (Non-GAAP)' stands at $1.80 billion. The estimate is in contrast to the year-ago figure of $1.58 billion.
Analysts expect 'Total deferred revenue' to come in at $6.67 billion. Compared to the present estimate, the company reported $6.01 billion in the same quarter last year.
Analysts forecast 'Gross profit- Product Non-GAAP' to reach $348.77 million. Compared to the current estimate, the company reported $339.40 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Gross profit- Service Non-GAAP' will likely reach $1.02 billion. The estimate compares to the year-ago value of $915.70 million.
Analysts' assessment points toward 'Gross profit- Product' reaching $337.80 million. The estimate compares to the year-ago value of $337.80 million.
Based on the collective assessment of analysts, 'Gross profit- Services' should arrive at $1.02 billion. The estimate compares to the year-ago value of $906.90 million.
Fortinet shares have witnessed a change of -2.4% in the past month, in contrast to the Zacks S&P 500 composite's +2.1% 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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Stay Ahead of the Game With Fortinet (FTNT) Q3 Earnings: Wall Street's Insights on Key Metrics
The upcoming report from Fortinet (FTNT - Free Report) is expected to reveal quarterly earnings of $0.63 per share, indicating no change from the year-ago quarter. Analysts forecast revenues of $1.7 billion, representing an increase of 12.9% year over year.
Over the last 30 days, there has been a downward revision of 0.3% 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
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.
According to the collective judgment of analysts, 'Revenue- Services' should come in at $1.17 billion. The estimate suggests a change of +12.9% year over year.
Analysts predict that the 'Revenue- Product' will reach $532.95 million. The estimate indicates a year-over-year change of +12.5%.
The average prediction of analysts places 'Revenue- Europe Middle East and Africa' at $676.71 million. The estimate indicates a year-over-year change of +12.9%.
It is projected by analysts that the 'Geographic revenues- Americas' will reach $689.75 million. The estimate suggests a change of +10.5% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Asia Pacific and Japan' of $328.44 million. The estimate points to a change of +15.3% from the year-ago quarter.
The consensus estimate for 'Total billings (Non-GAAP)' stands at $1.80 billion. The estimate is in contrast to the year-ago figure of $1.58 billion.
Analysts expect 'Total deferred revenue' to come in at $6.67 billion. Compared to the present estimate, the company reported $6.01 billion in the same quarter last year.
Analysts forecast 'Gross profit- Product Non-GAAP' to reach $348.77 million. Compared to the current estimate, the company reported $339.40 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Gross profit- Service Non-GAAP' will likely reach $1.02 billion. The estimate compares to the year-ago value of $915.70 million.
Analysts' assessment points toward 'Gross profit- Product' reaching $337.80 million. The estimate compares to the year-ago value of $337.80 million.
Based on the collective assessment of analysts, 'Gross profit- Services' should arrive at $1.02 billion. The estimate compares to the year-ago value of $906.90 million.
View all Key Company Metrics for Fortinet here>>>Fortinet shares have witnessed a change of -2.4% in the past month, in contrast to the Zacks S&P 500 composite's +2.1% 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 >>>> .