Fortinet, Inc. (FTNT)

Fortinet Stock Forecast

Stock Price Forecast

The 29 analysts with 12-month price forecasts for Fortinet stock have an average target of 79.24, with a low estimate of 50 and a high estimate of 111. The average target predicts a decrease of -13.76% from the current stock price of 91.88.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$50	$79.24	$80	$111
Change	-45.58%	-13.76%	-12.93%	+20.81%

Analyst Ratings

The average analyst rating for Fortinet stock from 32 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	Jun '24	Jul '24	Aug '24	Sep '24	Oct '24	Nov '24
Strong Buy	4	5	5	5	5	6
Buy	5	5	4	4	4	5
Hold	21	21	22	22	21	19
Sell	1	1	1	1	2	1
Strong Sell	1	1	1	1	1	1
Total	32	33	33	33	33	32

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Shrenik Kothari Baird	Baird	Buy Maintains $88 → $95	Buy	Maintains	$88 → $95	+3.40%	Nov 13, 2024
Stephen Bersey HSBC	HSBC	Hold → Strong Buy Upgrades $83 → $111	Hold → Strong Buy	Upgrades	$83 → $111	+20.81%	Nov 11, 2024
Matt Dezort Needham	Needham	Hold Reiterates n/a	Hold	Reiterates	n/a	n/a	Nov 11, 2024
Catharine Trebnick Rosenblatt	Rosenblatt	Strong Buy Maintains $85 → $90	Strong Buy	Maintains	$85 → $90	-2.05%	Nov 8, 2024
Saket Kalia Barclays	Barclays	Hold Maintains $85 → $95	Hold	Maintains	$85 → $95	+3.40%	Nov 8, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

5.99B

Increased by 12.84%

from 5.30B

Revenue Next Year

6.73B

Increased by 12.45%

from 5.99B

EPS This Year

2.11

Increased by 44.77%

from 1.46

EPS Next Year

2.36

Increased by 11.51%

from 2.11

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	5.99B	6.73B	7.55B
Revenue Growth	19.86%	19.94%	28.82%	32.17%	20.09%	12.84%	12.45%	12.23%
EPS	0.38	0.58	0.73	1.06	1.46	2.11	2.36	2.72
EPS Growth	-1.04%	52.63%	25.86%	45.21%	37.74%	44.77%	11.51%	15.29%
Forward PE	-	-	-	-	-	43.47	38.98	33.81
No. Analysts	-	-	-	-	-	43	42	24

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	6.2B	7.3B	8.3B
Avg	6.0B	6.7B	7.6B
Low	5.7B	6.2B	6.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	17.2%	21.1%	23.7%
Avg	12.8%	12.4%	12.2%
Low	7.2%	3.4%	-0.4%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	2.37	3.01	3.58
Avg	2.11	2.36	2.72
Low	1.98	2.00	2.32

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	62.5%	42.6%	51.9%
Avg	44.8%	11.5%	15.3%
Low	35.6%	-5.4%	-1.5%

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.