Fortinet Stock Forecast

Stock Price Forecast

The 31 analysts with 12-month price forecasts for Fortinet stock have an average target of 93.52, with a low estimate of 60 and a high estimate of 115. The average target predicts a decrease of -3.78% from the current stock price of 97.19.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$60	$93.52	$97	$115
Change	-38.27%	-3.78%	-0.20%	+18.32%

Analyst Ratings

The average analyst rating for Fortinet stock from 34 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jul '24	Aug '24	Sep '24	Oct '24	Nov '24	Dec '24
Strong Buy	5	5	5	5	7	7
Buy	5	4	4	4	5	6
Hold	21	22	22	21	19	19
Sell	1	1	1	2	1	1
Strong Sell	1	1	1	1	1	1
Total	33	33	33	33	33	34

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Joseph Gallo Jefferies	Jefferies	Hold Maintains $95 → $105	Hold	Maintains	$95 → $105	+8.04%	Dec 19, 2024
Eric Heath Keybanc	Keybanc	Hold → Buy Upgrades $115	Hold → Buy	Upgrades	$115	+18.32%	Dec 19, 2024
Adam Borg Stifel	Stifel	Hold Maintains $90 → $103	Hold	Maintains	$90 → $103	+5.98%	Dec 18, 2024
Brian Essex JP Morgan	JP Morgan	Hold Maintains $99 → $105	Hold	Maintains	$99 → $105	+8.04%	Dec 16, 2024
Gregg Moskowitz Mizuho	Mizuho	Sell Maintains $68 → $78	Sell	Maintains	$68 → $78	-19.74%	Dec 13, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

6.01B

from 5.30B

13.31%

from 5.30B

Revenue Next Year

6.77B

from 6.01B

12.64%

from 6.01B

EPS This Year

2.29

from 1.46

56.87%

from 1.46

EPS Next Year

2.49

from 2.29

8.51%

from 2.29

Fiscal Year	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	2.16B	2.59B	3.34B	4.42B	5.30B	6.01B	6.77B	7.66B
Revenue Growth	19.86%	19.94%	28.82%	32.17%	20.09%	13.31%	12.64%	13.10%
EPS	0.38	0.58	0.73	1.06	1.46	2.29	2.49	2.82
EPS Growth	-1.04%	52.63%	25.86%	45.21%	37.74%	56.87%	8.51%	13.44%
Forward PE	-	-	-	-	-	42.44	39.11	34.47
No. Analysts	-	-	-	-	-	43	43	32

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026
High	6.3B	7.3B	9.1B
Avg	6.0B	6.8B	7.7B
Low	5.7B	6.3B	6.9B

Revenue Growth

Revenue Growth	2024	2025	2026
High	18.2%	20.6%	34.6%
Avg	13.3%	12.6%	13.1%
Low	8.3%	4.9%	1.8%

EPS Forecast

EPS	2024	2025	2026
High	2.43	3.01	3.95
Avg	2.29	2.49	2.82
Low	2.18	2.17	2.35

EPS Growth

EPS Growth	2024	2025	2026
High	66.7%	31.6%	59.1%
Avg	56.9%	8.5%	13.4%
Low	49.0%	-5.4%	-5.4%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.