Forward Industries Stock Forecast

Stock Price Forecast

According to 2 analysts polled by S&P Global, Forward Industries stock has a consensus rating of "Strong Buy" and an average price target of $8.25. The average 1-year stock price forecast is 79.93% higher than the current stock price, while the lowest is $8.00 (+74.48%) and the highest is $8.50 (+85.39%).

Price Target: $8.25 (+79.93%)

Analyst Consensus: Strong Buy

Target	Low	Average	Median	High
Price	$8.00	$8.25	$8.25	$8.50
Change	+74.48%	+79.93%	+79.93%	+85.39%

* Price targets were last updated on May 15, 2026.

Analyst Ratings

The average analyst rating for Forward Industries stock is "Strong Buy". This means that analysts believe this stock is likely to perform very well in the near future and significantly outperform the market.

Recommendation Trends

Rating	Dec '25	Feb '26	Mar '26	Apr '26	May '26
Strong Buy	1	1	1	2	2
Buy	0	0	0	0	0
Hold	0	0	0	0	0
Sell	0	0	0	0	0
Strong Sell	0	0	0	0	0
Total	1	1	1	2	2

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Fedor Shabalin B. Riley Securities	B. Riley Securities	Buy Reiterates $7 → $8	Buy	Reiterates	$7 → $8	+74.48%	May 15, 2026

Financial Forecast

Revenue This Year

60.51M

from 18.19M

232.69%

from 18.19M

Revenue Next Year

55.00M

from 60.51M

-9.10%

from 60.51M

EPS This Year

-0.06

from -

EPS Next Year

-0.00

from -0.06

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Sep 30, 2021	Sep 30, 2022	Sep 30, 2023	Sep 30, 2024	Sep 30, 2025	Sep 30, 2026
Revenue	39.02M	38.21M	36.69M	19.99M	18.19M	60.51M
Revenue Growth	13.18%	-2.09%	-3.98%	-45.51%	-9.02%	232.69%
Gross Profit	8.13M	8.80M	8.36M	5.18M	5.19M	44.66M
Gross Margin	20.85%	23.03%	22.80%	25.93%	28.54%	73.81%
Operating Income	-765.00K	588.47K	159.66K	-1.95M	-6.37M	-804.26M
Net Income	523.81K	-1.38M	-3.74M	-1.95M	-166.97M	-805.19M
EPS	-	-	-	-	-	-0.06
No. Analysts	-	-	-	-	-	2

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

Revenue Forecast

Revenue	2026	2027	2028
High	61.0M
Avg	60.5M
Low	60.0M

Revenue Growth

Revenue Growth	2026	2027	2028
High	235.5%
Avg	232.7%
Low	229.9%

EPS Forecast

EPS	2026	2027	2028
High	-
Avg	-0.06
Low	-

EPS Growth

EPS Growth	2027	2028
High	-
Avg	-
Low	-