Cognizant Technology Solutions (Nasdaq: CTSH) is expected to report Q2 earnings on Aug. 6. 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 Cognizant Technology Solutions's revenues will expand 18.8% and EPS will expand 26.8%.

The average estimate for revenue is $2.13 billion. On the bottom line, the average EPS estimate is $1.04.

Revenue details
 Last quarter, Cognizant Technology Solutions reported revenue of $2.02 billion. GAAP reported sales were 18% higher than the prior-year quarter's $1.71 billion.

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

EPS details
 Last quarter, non-GAAP EPS came in at $1.02. GAAP EPS of $0.93 for Q1 were 18% higher than the prior-year quarter's $0.79 per share.

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

Recent performance
 For the preceding quarter, gross margin was 40.6%, 190 basis points worse than the prior-year quarter. Operating margin was 18.1%, 50 basis points worse than the prior-year quarter. Net margin was 14.1%, 10 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.64 billion. The average EPS estimate is $4.22.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,086 members out of 1,134 rating the stock outperform, and 48 members rating it underperform. Among 295 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 284 give Cognizant Technology Solutions a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cognizant Technology Solutions is outperform, with an average price target of $83.54.

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