Fortinet, Inc. (FTNT)

Fortinet Stock Forecast

Stock Price Forecast

The 30 analysts that cover Fortinet stock have a consensus rating of "Hold" and an average price target of $94.57, which forecasts a 10.13% increase in the stock price over the next year. The lowest target is $67 and the highest is $130.

Price Target: $94.57 (+10.13%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$67	$94.57	$90	$130
Change	-21.98%	+10.13%	+4.81%	+51.39%

* Price targets were last updated on Sep 2, 2025.

Analyst Ratings

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

Recommendation Trends

Rating	May '25	Jun '25	Jul '25	Aug '25	Sep '25	Oct '25
Strong Buy	7	7	6	5	5	5
Buy	5	5	5	3	3	3
Hold	19	19	19	24	24	24
Sell	1	1	1	1	2	2
Strong Sell	0	0	0	0	0	0
Total	32	32	31	33	34	34

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Meta Marshall Morgan Stanley	Morgan Stanley	Hold → Sell Downgrades $78 → $67	Hold → Sell	Downgrades	$78 → $67	-21.98%	Sep 2, 2025
Fatima Boolani Citigroup	Citigroup	Hold Maintains $110 → $85	Hold	Maintains	$110 → $85	-1.01%	Aug 18, 2025
Amit Daryanani Evercore ISI Group	Evercore ISI Group	Hold Maintains $105 → $78	Hold	Maintains	$105 → $78	-9.17%	Aug 8, 2025
Brian Essex JP Morgan	JP Morgan	Hold Maintains $105 → $87	Hold	Maintains	$105 → $87	+1.32%	Aug 7, 2025
Patrick Colville Scotiabank	Scotiabank	Buy Maintains $115 → $85	Buy	Maintains	$115 → $85	-1.01%	Aug 7, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

6.89B

Increased by 15.60%

from 5.96B

Revenue Next Year

7.69B

Increased by 11.63%

from 6.89B

EPS This Year

2.57

Increased by 13.74%

from 2.26

EPS Next Year

2.85

Increased by 10.74%

from 2.57

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	2.59B	3.34B	4.42B	5.30B	5.96B	6.89B	7.69B
Revenue Growth	19.95%	28.82%	32.17%	20.09%	12.27%	15.60%	11.63%
EPS	0.58	0.73	1.06	1.46	2.26	2.57	2.85
EPS Growth	52.63%	25.86%	45.21%	37.74%	54.80%	13.74%	10.74%
Forward PE	-	-	-	-	-	33.41	30.17
No. Analysts	-	-	-	-	-	46	46

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

Revenue Forecast

Revenue	2025	2026	2027	2028	2029
High	7.1B	8.3B
Avg	6.9B	7.7B
Low	6.6B	7.1B

Revenue Growth

Revenue Growth	2025	2026	2027	2028	2029
High	19.7%	20.3%
Avg	15.6%	11.6%
Low	10.3%	3.1%

EPS Forecast

EPS	2025	2026	2027	2028	2029
High	2.79	3.40
Avg	2.57	2.85
Low	2.43	2.53

EPS Growth

EPS Growth	2025	2026	2027	2028	2029
High	23.6%	32.3%
Avg	13.7%	10.7%
Low	7.5%	-1.6%

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.