Fortinet (Nasdaq: FTNT) is expected to report Q3 earnings around Oct. 16. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Fortinet's revenues will grow 17.1% and EPS will grow 7.7%.

The average estimate for revenue is $136.3 million. On the bottom line, the average EPS estimate is $0.14.

Revenue details
 Last quarter, Fortinet recorded revenue of $129.0 million. GAAP reported sales were 25% higher than the prior-year quarter's $103.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.12. GAAP EPS of $0.08 for Q2 were 11% lower than the prior-year quarter's $0.09 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 71.2%, 300 basis points worse than the prior-year quarter. Operating margin was 15.9%, 190 basis points worse than the prior-year quarter. Net margin was 10.8%, 330 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $528.7 million. The average EPS estimate is $0.51.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 93 members out of 104 rating the stock outperform, and 11 members rating it underperform. Among 18 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Fortinet a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fortinet is outperform, with an average price target of $29.60.

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