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Ahead of Fortinet (FTNT) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics

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In its upcoming report, Fortinet (FTNT - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.41 per share, reflecting an increase of 7.9% compared to the same period last year. Revenues are forecasted to be $1.4 billion, representing a year-over-year increase of 8.4%.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation 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.

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.

Analysts' assessment points toward 'Revenue- Total Product' reaching $425.40 million. The estimate points to a change of -10% from the year-ago quarter.

Analysts expect 'Revenue- Services' to come in at $976.06 million. The estimate points to a change of +19% from the year-ago quarter.

Analysts predict that the 'Revenue- Europe Middle East and Africa' will reach $548.24 million. The estimate points to a change of +8.2% from the year-ago quarter.

The average prediction of analysts places 'Revenue- Asia Pacific and Japan' at $274.62 million. The estimate indicates a year-over-year change of +10.3%.

The consensus among analysts is that 'Total billings (Non-GAAP)' will reach $1.52 billion. The estimate is in contrast to the year-ago figure of $1.54 billion.

It is projected by analysts that the 'Total deferred revenue' will reach $5.91 billion. The estimate is in contrast to the year-ago figure of $5.13 billion.

Based on the collective assessment of analysts, 'Gross profit- Product' should arrive at $239.04 million. Compared to the present estimate, the company reported $298.10 million in the same quarter last year.

According to the collective judgment of analysts, 'Gross profit- Services' should come in at $844.80 million. The estimate is in contrast to the year-ago figure of $698.90 million.

View all Key Company Metrics for Fortinet here>>>

Shares of Fortinet have experienced a change of -4.4% in the past month compared to the +1.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), FTNT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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