Fortinet (Nasdaq: FTNT) is expected to report Q1 earnings on April 30. 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 expand 15.2% and EPS will decrease -9.1%.

The average estimate for revenue is $135.1 million. On the bottom line, the average EPS estimate is $0.10.

Revenue details
Last quarter, Fortinet logged revenue of $151.2 million. GAAP reported sales were 25% higher than the prior-year quarter's $120.9 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 $0.17. GAAP EPS of $0.13 for Q4 were 30% higher than the prior-year quarter's $0.10 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 72.6%, 50 basis points worse than the prior-year quarter. Operating margin was 22.1%, 110 basis points better than the prior-year quarter. Net margin was 14.2%, 60 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $610.0 million. The average EPS estimate is $0.57.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 102 members out of 113 rating the stock outperform, and 11 members rating it underperform. Among 22 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 20 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 $27.09.

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