Fortinet Stock Forecast

Stock Price Forecast

The 30 analysts with 12-month price forecasts for Fortinet stock have an average target of 96.6, with a low estimate of 60 and a high estimate of 120. The average target predicts a decrease of -0.31% from the current stock price of 96.90.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$60	$96.6	$101	$120
Change	-38.08%	-0.31%	+4.23%	+23.84%

Analyst Ratings

The average analyst rating for Fortinet stock from 33 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	Aug '24	Sep '24	Oct '24	Nov '24	Dec '24	Jan '25
Strong Buy	5	5	5	7	7	7
Buy	4	4	4	5	6	6
Hold	22	22	21	19	19	18
Sell	1	1	2	1	1	1
Strong Sell	1	1	1	1	1	1
Total	33	33	33	33	34	33

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
John Difucci Guggenheim	Guggenheim	Hold Reiterates n/a	Hold	Reiterates	n/a	n/a	Jan 24, 2025
Catharine Trebnick Rosenblatt	Rosenblatt	Strong Buy Maintains $100 → $115	Strong Buy	Maintains	$100 → $115	+18.68%	Jan 21, 2025
Patrick Colville Scotiabank	Scotiabank	Buy Maintains $110 → $115	Buy	Maintains	$110 → $115	+18.68%	Jan 21, 2025
Fatima Boolani Citigroup	Citigroup	Hold Maintains $100 → $101	Hold	Maintains	$100 → $101	+4.23%	Jan 17, 2025
Adam Tindle Raymond James	Raymond James	Buy → Hold Downgrades n/a	Buy → Hold	Downgrades	n/a	n/a	Jan 14, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

6.01B

from 5.30B

13.27%

from 5.30B

Revenue Next Year

6.77B

from 6.01B

12.61%

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%	13.27%	12.61%	13.15%
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	-	-	-	-	-	42.31	38.99	34.37
No. Analysts	-	-	-	-	-	43	43	32

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

Revenue Forecast

Revenue	2024	2025	2026
High	6.2B	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	17.1%	20.7%	34.7%
Avg	13.3%	12.6%	13.2%
Low	8.3%	4.9%	1.9%

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.