Shutterfly (Nasdaq: SFLY) is expected to report Q1 earnings on May 1. 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 Shutterfly's revenues will expand 20.2% and EPS will remain in the red.

The average estimate for revenue is $109.7 million. On the bottom line, the average EPS estimate is -$0.09.

Revenue details
 Last quarter, Shutterfly notched revenue of $351.8 million. GAAP reported sales were 33% higher than the prior-year quarter's $263.8 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, EPS came in at $1.40. GAAP EPS of $1.40 for Q4 were 44% higher than the prior-year quarter's $0.97 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 60.5%, 160 basis points better than the prior-year quarter. Operating margin was 28.8%, 110 basis points better than the prior-year quarter. Net margin was 15.1%, 170 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $745.9 million. The average EPS estimate is $1.79.

Investor sentiment
 The stock has a one-star rating (out of five) at Motley Fool CAPS, with 161 members out of 278 rating the stock outperform, and 117 members rating it underperform. Among 81 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Shutterfly a green thumbs-up, and 38 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Shutterfly is outperform, with an average price target of $36.25.

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