What Analyst Projections for Key Metrics Reveal About Fortinet (FTNT) Q2 Earnings

In its upcoming report, Fortinet (FTNT) is predicted by Wall Street analysts to post quarterly earnings of $0.59 per share, reflecting an increase of 3.5% compared to the same period last year. Revenues are forecasted to be $1.62 billion, representing a year-over-year increase of 12.9%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.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- Services' of $1.12 billion. The estimate indicates a change of +14.4% from the prior-year quarter.The average prediction of analysts places 'Revenue- Product' at $495.98 million. The estimate suggests a change of +9.8% year over year.Analysts' assessment points toward 'Revenue- Europe Middle East and Africa' reaching $648.03 million. The estimate indicates a change of +14.7% from the prior-year quarter.The combined assessment of analysts suggests that 'Geographic revenues- Total Americas' will likely reach $666.43 million. The estimate indicates a change of +12% from the prior-year quarter.According to the collective judgment of analysts, 'Revenue- Asia Pacific and Japan' should come in at $311.61 million. The estimate points to a change of +13.8% from the year-ago quarter.It is projected by analysts that the 'Total billings (Non-GAAP)' will reach $1.72 billion. The estimate is in contrast to the year-ago figure of $1.54 billion.The consensus estimate for 'Total deferred revenue' stands at $6.52 billion. The estimate compares to the year-ago value of $5.90 billion.Analysts forecast 'Gross profit- Product Non-GAAP' to reach $321.40 million. Compared to the present estimate, the company reported $298.40 million in the same quarter last year.Analysts expect 'Gross profit- Service Non-GAAP' to come in at $982.83 million. Compared to the present estimate, the company reported $870.20 million in the same quarter last year.Based on the collective assessment of analysts, 'Gross profit- Product' should arrive at $316.85 million. The estimate is in contrast to the year-ago figure of $296.80 million.The consensus among analysts is that 'Gross profit- Services' will reach $983.06 million. The estimate compares to the year-ago value of $862.50 million. View all Key Company Metrics for Fortinet here>>> Fortinet shares have witnessed a change of -5.5% in the past month, in contrast to the Zacks S&P 500 composite's +2.3% move. With a Zacks Rank #2 (Buy), FTNT is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fortinet, Inc. (FTNT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks