Fortinet Stock Forecast

Stock Price Forecast

According to 44 analysts polled by S&P Global, Fortinet stock has a consensus rating of "Hold" and an average price target of $113.89. The average 1-year stock price forecast is 27.69% lower than the current stock price, while the lowest is $70 (-55.56%) and the highest is $180 (+14.28%).

Price Target: $113.89 (-27.69%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$70	$113.89	$110	$180
Change	-55.56%	-27.69%	-30.16%	+14.28%

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	Feb '26	Mar '26	Apr '26	May '26	Jun '26	Jul '26
Strong Buy	9	9	9	10	10	10
Buy	1	1	1	0	1	1
Hold	29	29	29	29	27	27
Sell	1	1	1	1	2	2
Strong Sell	2	3	3	3	4	4
Total	42	43	43	43	44	44

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Gray Powell BTIG	BTIG	Buy Maintains $150 → $186	Buy	Maintains	$150 → $186	+18.09%	Jul 10, 2026
Stephen Bersey HSBC	HSBC	Sell Downgrades $102	Sell	Downgrades	$102	-35.24%	Jun 29, 2026
Peter Weed Bernstein	Bernstein	Hold Maintains $92	Hold	Maintains	$92	-41.59%	Jun 29, 2026
Richard Poland Wells Fargo	Wells Fargo	Sell Reiterates $45 → $125	Sell	Reiterates	$45 → $125	-20.64%	Jun 29, 2026
Saket Kalia Barclays	Barclays	Hold Maintains $115 → $155	Hold	Maintains	$115 → $155	-1.59%	Jun 12, 2026

More Analyst Ratings

Financial Forecast

Revenue This Year

7.81B

from 6.80B

14.89%

from 6.80B

Revenue Next Year

8.64B

from 7.81B

10.59%

from 7.81B

EPS This Year

3.16

from 2.76

14.38%

from 2.76

EPS Next Year

3.43

from 3.16

8.52%

from 3.16

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	3.34B	4.42B	5.30B	5.96B	6.80B	7.81B
Revenue Growth	28.82%	32.17%	20.09%	12.27%	14.17%	14.89%
Gross Profit	2.56B	3.33B	4.07B	4.80B	5.47B	6.26B
Gross Margin	76.57%	75.44%	76.68%	80.56%	80.46%	80.15%
Operating Income	645.80M	965.00M	1.24B	1.80B	2.07B	2.71B
Net Income	606.80M	857.30M	1.15B	1.75B	1.85B	2.06B
EPS	-	-	-	-	2.76	3.16
EPS Growth	-	-	-	-	16.46%	14.38%
Forward PE	82.80	36.17	35.89	40.11	27.97	49.90
Free Cash Flow	905.51M	1.06B	1.44B	1.83B	1.75B	2.70B
No. Analysts	-	-	-	-	-	40

EPS and Forward PE are based on non-GAAP adjusted numbers.

Revenue Forecast

Revenue	2026	2027	2028
High	8.0B
Avg	7.8B
Low	7.8B

Revenue Growth

Revenue Growth	2026	2027	2028
High	18.1%
Avg	14.9%
Low	14.2%

EPS Forecast

EPS	2026	2027	2028
High	3.37
Avg	3.16
Low	3.11

EPS Growth

EPS Growth	2026	2027	2028
High	22.1%
Avg	14.4%
Low	12.7%