Fortinet Stock Forecast

Stock Price Forecast

The 28 analysts with 12-month price forecasts for Fortinet stock have an average target of 69.39, with a low estimate of 50 and a high estimate of 85. The average target predicts an increase of 18.66% from the current stock price of 58.48.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$50	$69.39	$70	$85
Change	-14.50%	+18.66%	+19.70%	+45.35%

Analyst Ratings

The average analyst rating for Fortinet stock from 32 stock analysts is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Feb '24	Mar '24	Apr '24	May '24	Jun '24	Jul '24
Strong Buy	6	6	6	4	4	5
Buy	5	5	5	5	5	5
Hold	20	20	21	21	21	20
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	33	33	34	32	32	32

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Shaul Eyal TD Cowen	TD Cowen	Hold → Strong Buy Upgrades $75	Hold → Strong Buy	Upgrades	$75	+28.25%	Jul 18, 2024
Hamza Fodderwala Morgan Stanley	Morgan Stanley	Buy Maintains $73 → $69	Buy	Maintains	$73 → $69	+17.99%	Jul 17, 2024
Saket Kalia Barclays	Barclays	Hold Maintains $75 → $70	Hold	Maintains	$75 → $70	+19.70%	Jul 11, 2024
Raymond McDonough Guggenheim	Guggenheim	Strong Buy Reiterates $81	Strong Buy	Reiterates	$81	+38.51%	Jun 25, 2024
Catharine Trebnick Rosenblatt	Rosenblatt	Strong Buy Maintains $85	Strong Buy	Maintains	$85	+45.35%	Jun 11, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

5.92B

from 5.30B

11.50%

from 5.30B

Revenue Next Year

6.67B

from 5.92B

12.81%

from 5.92B

EPS This Year

1.80

from 1.46

23.46%

from 1.46

EPS Next Year

2.00

from 1.80

11.11%

from 1.80

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	2.16B	2.59B	3.34B	4.42B	5.30B	5.92B	6.67B	7.60B	9.64B	10.76B
Revenue Growth	19.86%	19.94%	28.82%	32.17%	20.09%	11.50%	12.81%	13.91%	26.85%	11.64%
EPS	0.38	0.58	0.73	1.06	1.46	1.80	2.00	2.38	2.88	3.55
EPS Growth	-1.04%	52.63%	25.86%	45.21%	37.74%	23.46%	11.11%	18.59%	21.16%	23.31%
Forward PE	-	-	-	-	-	32.44	29.20	24.62	20.32	16.48
No. Analysts	-	-	-	-	-	43	42	18	5	4

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	6.1B	7.2B	8.3B	11.0B	11.9B
Avg	5.9B	6.7B	7.6B	9.6B	10.8B
Low	5.7B	6.2B	6.9B	8.5B	9.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	15.6%	21.7%	23.9%	44.2%	23.9%
Avg	11.5%	12.8%	13.9%	26.9%	11.6%
Low	6.6%	4.1%	4.0%	11.9%	0.4%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	2.12	2.60	3.14	3.98	4.63
Avg	1.80	2.00	2.38	2.88	3.55
Low	1.70	1.76	1.96	2.27	2.50

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	45.3%	44.5%	56.8%	67.6%	60.9%
Avg	23.5%	11.1%	18.6%	21.2%	23.3%
Low	16.1%	-2.1%	-2.1%	-4.3%	-13.2%

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.