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Gear Up for Fortinet (FTNT) Q3 Earnings: Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that Fortinet (FTNT - Free Report) will announce quarterly earnings of $0.37 per share in its forthcoming report, representing an increase of 12.1% year over year. Revenues are projected to reach $1.35 billion, increasing 17.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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 predict that the 'Revenue- Total Product' will reach $486.82 million. The estimate suggests a change of +3.9% year over year.
The combined assessment of analysts suggests that 'Revenue- Services' will likely reach $859.42 million. The estimate indicates a change of +26.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Europe Middle East and Africa' should come in at $518.16 million. The estimate suggests a change of +16.7% year over year.
Analysts expect 'Revenue- Asia Pacific and Japan' to come in at $272.89 million. The estimate indicates a year-over-year change of +14.7%.
Analysts' assessment points toward 'Total billings (Non-GAAP)' reaching $1.59 billion. Compared to the present estimate, the company reported $1.41 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Total deferred revenue' should arrive at $5.37 billion. The estimate compares to the year-ago value of $4.19 billion.
The consensus estimate for 'Gross profit- Product' stands at $296.16 million. The estimate is in contrast to the year-ago figure of $283.50 million.
The consensus among analysts is that 'Gross profit- Services' will reach $722.09 million. The estimate compares to the year-ago value of $583 million.
Fortinet shares have witnessed a change of -0.8% in the past month, in contrast to the Zacks S&P 500 composite's -2.2% 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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Gear Up for Fortinet (FTNT) Q3 Earnings: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Fortinet (FTNT - Free Report) will announce quarterly earnings of $0.37 per share in its forthcoming report, representing an increase of 12.1% year over year. Revenues are projected to reach $1.35 billion, increasing 17.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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 predict that the 'Revenue- Total Product' will reach $486.82 million. The estimate suggests a change of +3.9% year over year.
The combined assessment of analysts suggests that 'Revenue- Services' will likely reach $859.42 million. The estimate indicates a change of +26.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Europe Middle East and Africa' should come in at $518.16 million. The estimate suggests a change of +16.7% year over year.
Analysts expect 'Revenue- Asia Pacific and Japan' to come in at $272.89 million. The estimate indicates a year-over-year change of +14.7%.
Analysts' assessment points toward 'Total billings (Non-GAAP)' reaching $1.59 billion. Compared to the present estimate, the company reported $1.41 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Total deferred revenue' should arrive at $5.37 billion. The estimate compares to the year-ago value of $4.19 billion.
The consensus estimate for 'Gross profit- Product' stands at $296.16 million. The estimate is in contrast to the year-ago figure of $283.50 million.
The consensus among analysts is that 'Gross profit- Services' will reach $722.09 million. The estimate compares to the year-ago value of $583 million.
View all Key Company Metrics for Fortinet here>>>
Fortinet shares have witnessed a change of -0.8% in the past month, in contrast to the Zacks S&P 500 composite's -2.2% 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 >>>>