Fortinet (FTNT) Stock Forecast, Price Target & Predictions
FTNT Stock Forecast
Fortinet stock forecast is as follows: an average price target of $71.93 (represents a -12.36% downside from FTNT’s last price of $82.07) and a rating consensus of 'Hold', based on 29 wall street analysts offering a 1-year stock forecast.
FTNT Price Target
The average price target for Fortinet (FTNT) is $71.93 based on 1-year price targets from 29 Wall Street analysts in the past 3 months, with a price target range of $85.00 to $55.00. This represents a potential -12.36% downside from FTNT's last price of $82.07.
FTNT Analyst Ratings
According to 29 Wall Street analysts, Fortinet's rating consensus is 'Hold'. The analyst rating breakdown for FTNT stock is 0 'Strong Buy' (0.00%), 14 'Buy' (48.28%), 15 'Hold' (51.72%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Fortinet Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Oct 17, 2024 | Gregg Moskowitz | Mizuho Securities | $68.00 | $82.12 | -17.19% | -17.14% |
| Sep 23, 2024 | Stephen Bersey | HSBC | $83.00 | $77.66 | 6.88% | 1.13% |
| Sep 13, 2024 | Janice Quek | CFRA | $84.00 | $75.08 | 11.89% | 2.35% |
| Sep 13, 2024 | Fatima Boolani | Citigroup | $76.00 | $74.49 | 2.03% | -7.40% |
| Aug 07, 2024 | Shrenik Kothari | Robert W. Baird | $80.00 | $68.25 | 17.21% | -2.52% |
| Aug 07, 2024 | Keith Bachman | BMO Capital | $76.00 | $69.93 | 8.68% | -7.40% |
| Aug 07, 2024 | Andrew Nowinski | Wells Fargo | $64.00 | $55.81 | 14.67% | -22.02% |
| Aug 07, 2024 | Stephen Bersey | HSBC | $59.00 | $69.93 | -15.63% | -28.11% |
| Aug 05, 2024 | Catherine Trebnick | Rosenblatt Securities | $68.00 | $55.45 | 22.64% | -17.14% |
| Jul 30, 2024 | Fatima Boolani | Citigroup | $65.00 | $57.39 | 13.26% | -20.80% |
The latest Fortinet stock forecast, released on Oct 17, 2024 by Gregg Moskowitz from Mizuho Securities, set a price target of $68.00, which represents a -17.19% decrease from the stock price at the time of the forecast ($82.12), and a -17.14% decrease from FTNT last price ($82.07).
Fortinet Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 2 | 10 | 24 |
| Avg Price Target | $75.50 | $72.30 | $69.54 |
| Last Closing Price | $82.07 | $82.07 | $82.07 |
| Upside/Downside | -8.01% | -11.90% | -15.27% |
In the current month, the average price target of Fortinet stock is $75.50, according to 2 Wall Street analysts offering twelve months forecast. The average price target represents a -8.01% decrease as opposed to Fortinet's last price of $82.07. This month's average price target is up 4.43% compared to last quarter, and up 8.57% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 17, 2024 | OTR Global | - | Positive | Upgrade |
| Oct 09, 2024 | Cowen & Co. | Buy | Buy | Hold |
| Oct 07, 2024 | Wells Fargo | Sector Outperform | Sector Outperform | Hold |
| Sep 23, 2024 | HSBC | Hold | Hold | Hold |
| Sep 13, 2024 | Wells Fargo | Sector Outperform | Sector Outperform | Hold |
| Sep 13, 2024 | CFRA | Buy | Buy | Hold |
| Sep 13, 2024 | Citigroup | Neutral | Neutral | Hold |
| Aug 08, 2024 | Susquehanna | Neutral | Neutral | Hold |
| Aug 07, 2024 | BMO Capital | Market Perform | Market Perform | Hold |
| Aug 07, 2024 | Cantor Fitzgerald | Neutral | Neutral | Hold |
Fortinet's last stock rating was published by OTR Global on Oct 17, 2024. The company Upgrade its FTNT rating from "null" to "Positive".
Fortinet Financial Forecast
Fortinet Revenue Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $1.33B | $1.29B | $1.26B | $1.28B | $1.15B | $1.03B | $954.80M | $963.60M | $867.20M | $801.10M | $710.30M | $748.00M | $651.10M |
| Avg Forecast | $2.44B | $2.30B | $2.19B | $2.10B | $1.97B | $1.85B | $1.79B | $1.71B | $1.78B | $1.66B | $1.60B | $1.53B | $1.59B | $1.48B | $1.40B | $1.34B | $1.41B | $1.35B | $1.30B | $1.20B | $1.30B | $1.12B | $1.03B | $884.93M | $960.24M | $811.55M | $745.14M | $680.73M | $722.47M | $639.19M |
| High Forecast | $2.44B | $2.30B | $2.19B | $2.10B | $1.97B | $1.85B | $1.79B | $1.71B | $1.78B | $1.66B | $1.60B | $1.53B | $1.59B | $1.50B | $1.41B | $1.34B | $1.44B | $1.36B | $1.30B | $1.20B | $1.30B | $1.12B | $1.03B | $884.93M | $960.24M | $811.55M | $745.14M | $680.73M | $722.47M | $639.19M |
| Low Forecast | $2.44B | $2.30B | $2.19B | $2.10B | $1.97B | $1.85B | $1.79B | $1.71B | $1.78B | $1.66B | $1.60B | $1.53B | $1.59B | $1.46B | $1.40B | $1.34B | $1.38B | $1.32B | $1.30B | $1.20B | $1.30B | $1.12B | $1.03B | $884.93M | $960.24M | $811.55M | $745.14M | $680.73M | $722.47M | $639.19M |
| # Analysts | 18 | 17 | 16 | 15 | 11 | 22 | 21 | 20 | 10 | 10 | 10 | 10 | 11 | 23 | 11 | 7 | 15 | 29 | 26 | 16 | 21 | 13 | 13 | 20 | 27 | 17 | 14 | 26 | 14 | 4 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.99% | 0.99% | 1.05% | 0.99% | 1.02% | 1.00% | 1.08% | 1.00% | 1.07% | 1.08% | 1.04% | 1.04% | 1.02% |
Fortinet's average Quarter revenue forecast for Dec 23 based on 15 analysts is $1.41B, with a low forecast of $1.38B, and a high forecast of $1.44B. FTNT's average Quarter revenue forecast represents a 5.58% increase compared to the company's last Quarter revenue of $1.33B (Sep 23).
Fortinet EBITDA Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 18 | 17 | 16 | 15 | 11 | 22 | 21 | 20 | 10 | 10 | 10 | 10 | 11 | 23 | 11 | 7 | 15 | 29 | 26 | 16 | 21 | 13 | 13 | 20 | 27 | 17 | 14 | 26 | 14 | 4 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $361.50M | $331.80M | $323.60M | $400.00M | $295.60M | $213.50M | $168.70M | $232.50M | $181.30M | $168.40M | $136.50M | $190.40M | $147.60M |
| Avg Forecast | $545.81M | $515.78M | $490.06M | $470.81M | $442.37M | $415.18M | $401.56M | $383.69M | $399.31M | $371.98M | $359.04M | $342.16M | $355.91M | $331.36M | $314.81M | $160.02M | $315.76M | $302.04M | $292.26M | $145.47M | $237.96M | $251.99M | $230.06M | $132.25M | $215.17M | $181.85M | $166.97M | $123.77M | $161.89M | $143.23M |
| High Forecast | $545.81M | $515.78M | $490.06M | $470.81M | $442.37M | $415.18M | $401.56M | $383.69M | $399.31M | $371.98M | $359.04M | $342.16M | $355.91M | $335.84M | $314.97M | $192.02M | $322.47M | $305.71M | $292.26M | $174.57M | $285.55M | $251.99M | $230.06M | $158.70M | $215.17M | $181.85M | $166.97M | $148.52M | $161.89M | $143.23M |
| Low Forecast | $545.81M | $515.78M | $490.06M | $470.81M | $442.37M | $415.18M | $401.56M | $383.69M | $399.31M | $371.98M | $359.04M | $342.16M | $355.91M | $326.88M | $314.64M | $128.02M | $309.04M | $294.88M | $292.26M | $116.38M | $190.37M | $251.99M | $230.06M | $105.80M | $215.17M | $181.85M | $166.97M | $99.02M | $161.89M | $143.23M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.20% | 1.14% | 2.22% | 1.68% | 1.17% | 0.93% | 1.28% | 1.08% | 1.00% | 1.01% | 1.10% | 1.18% | 1.03% |
15 analysts predict FTNT's average Quarter EBITDA for Dec 23 to be $315.76M, with a high of $322.47M and a low of $309.04M. This is -12.65% lower than Fortinet's previous annual EBITDA (Sep 23) of $361.50M.
Fortinet Net Income Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 18 | 17 | 16 | 15 | 11 | 22 | 21 | 20 | 10 | 10 | 10 | 10 | 11 | 23 | 11 | 7 | 15 | 29 | 26 | 16 | 21 | 13 | 13 | 20 | 27 | 17 | 14 | 26 | 14 | 4 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $322.90M | $266.30M | $247.70M | $313.80M | $231.60M | $173.50M | $138.40M | $203.60M | $163.10M | $137.50M | $107.20M | $146.70M | $123.40M |
| Avg Forecast | - | - | - | - | $506.74M | $482.81M | $489.45M | $436.65M | $466.55M | $432.79M | $422.87M | $377.55M | $399.72M | $396.32M | $315.05M | $138.16M | $332.44M | $280.06M | $263.89M | $125.60M | $203.67M | $214.99M | $169.20M | $114.18M | $176.89M | $144.98M | $135.18M | $97.06M | $148.72M | $120.00M |
| High Forecast | - | - | - | - | $506.74M | $482.81M | $489.45M | $436.65M | $466.55M | $432.79M | $422.87M | $377.55M | $399.72M | $404.09M | $315.13M | $165.79M | $347.90M | $295.62M | $263.89M | $150.72M | $244.41M | $214.99M | $169.20M | $137.02M | $176.89M | $144.98M | $135.18M | $116.47M | $148.72M | $120.00M |
| Low Forecast | - | - | - | - | $506.74M | $482.81M | $489.45M | $436.65M | $466.55M | $432.79M | $422.87M | $377.55M | $399.72M | $388.55M | $314.97M | $110.53M | $324.71M | $272.28M | $263.89M | $100.48M | $162.94M | $214.99M | $169.20M | $91.34M | $176.89M | $144.98M | $135.18M | $77.65M | $148.72M | $120.00M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.15% | 1.01% | 1.97% | 1.54% | 1.08% | 1.03% | 1.21% | 1.15% | 1.12% | 1.02% | 1.10% | 0.99% | 1.03% |
Fortinet's average Quarter net income forecast for Dec 23 is $332.44M, with a range of $324.71M to $347.90M. FTNT's average Quarter net income forecast represents a 2.96% increase compared to the company's last Quarter net income of $322.90M (Sep 23).
Fortinet SG&A Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 18 | 17 | 16 | 15 | 11 | 22 | 21 | 20 | 10 | 10 | 10 | 10 | 11 | 23 | 11 | 7 | 15 | 29 | 26 | 16 | 21 | 13 | 13 | 20 | 27 | 17 | 14 | 26 | 14 | 4 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $557.90M | $565.80M | $531.10M | $500.20M | $467.80M | $460.90M | $426.20M | $409.00M | $382.90M | $361.30M | $336.00M | $323.80M | $296.10M |
| Avg Forecast | $1.08B | $1.02B | $969.45M | $931.37M | $875.11M | $821.33M | $794.37M | $759.02M | $789.93M | $735.87M | $710.26M | $676.88M | $704.06M | $655.50M | $622.76M | $425.45M | $624.64M | $597.50M | $578.16M | $386.78M | $418.60M | $498.49M | $455.12M | $351.62M | $425.65M | $359.74M | $330.31M | $304.22M | $320.25M | $283.34M |
| High Forecast | $1.08B | $1.02B | $969.45M | $931.37M | $875.11M | $821.33M | $794.37M | $759.02M | $789.93M | $735.87M | $710.26M | $676.88M | $704.06M | $664.36M | $623.09M | $510.54M | $637.93M | $604.76M | $578.16M | $464.13M | $502.32M | $498.49M | $455.12M | $421.94M | $425.65M | $359.74M | $330.31M | $365.06M | $320.25M | $283.34M |
| Low Forecast | $1.08B | $1.02B | $969.45M | $931.37M | $875.11M | $821.33M | $794.37M | $759.02M | $789.93M | $735.87M | $710.26M | $676.88M | $704.06M | $646.64M | $622.43M | $340.36M | $611.35M | $583.35M | $578.16M | $309.42M | $334.88M | $498.49M | $455.12M | $281.29M | $425.65M | $359.74M | $330.31M | $243.37M | $320.25M | $283.34M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.93% | 0.98% | 1.37% | 1.19% | 0.94% | 1.01% | 1.21% | 0.96% | 1.06% | 1.09% | 1.10% | 1.01% | 1.05% |
Fortinet's average Quarter SG&A projection for Dec 23 is $624.64M, based on 15 Wall Street analysts, with a range of $611.35M to $637.93M. The forecast indicates a 11.96% rise compared to FTNT last annual SG&A of $557.90M (Sep 23).
Fortinet EPS Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 18 | 17 | 16 | 15 | 11 | 22 | 21 | 20 | 10 | 10 | 10 | 10 | 11 | 23 | 11 | 7 | 15 | 29 | 26 | 16 | 21 | 13 | 13 | 20 | 27 | 17 | 14 | 26 | 14 | 4 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $0.41 | $0.34 | $0.32 | $0.40 | $0.29 | $0.22 | $0.17 | $0.25 | $0.20 | $0.17 | $0.13 | $0.18 | $0.15 |
| Avg Forecast | - | - | - | - | $0.66 | $0.63 | $0.64 | $0.57 | $0.61 | $0.56 | $0.55 | $0.49 | $0.52 | $0.51 | $0.41 | $0.38 | $0.43 | $0.36 | $0.34 | $0.29 | $0.39 | $0.28 | $0.22 | $0.16 | $0.23 | $0.19 | $0.18 | $0.15 | $0.19 | $0.16 |
| High Forecast | - | - | - | - | $0.66 | $0.63 | $0.64 | $0.57 | $0.61 | $0.56 | $0.55 | $0.49 | $0.52 | $0.52 | $0.41 | $0.38 | $0.45 | $0.38 | $0.34 | $0.29 | $0.39 | $0.28 | $0.22 | $0.16 | $0.23 | $0.19 | $0.18 | $0.15 | $0.19 | $0.16 |
| Low Forecast | - | - | - | - | $0.66 | $0.63 | $0.64 | $0.57 | $0.61 | $0.56 | $0.55 | $0.49 | $0.52 | $0.50 | $0.41 | $0.38 | $0.42 | $0.35 | $0.34 | $0.29 | $0.39 | $0.28 | $0.22 | $0.16 | $0.23 | $0.19 | $0.18 | $0.15 | $0.19 | $0.16 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.13% | 0.99% | 1.12% | 1.02% | 1.04% | 1.00% | 1.07% | 1.09% | 1.06% | 0.96% | 0.89% | 0.93% | 0.98% |
According to 15 Wall Street analysts, Fortinet's projected average Quarter EPS for Dec 23 is $0.43, with a low estimate of $0.42 and a high estimate of $0.45. This represents a 5.32% increase compared to FTNT previous annual EPS of $0.41 (Sep 23).
Fortinet Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| PATH | UiPath | $13.05 | $25.53 | 95.63% | Hold |
| OKTA | Okta | $74.04 | $116.97 | 57.98% | Hold |
| MDB | MongoDB | $271.77 | $373.27 | 37.35% | Buy |
| ZS | Zscaler | $187.96 | $232.54 | 23.72% | Buy |
| ADBE | Adobe | $497.71 | $592.03 | 18.95% | Buy |
| NET | Cloudflare | $90.74 | $95.00 | 4.69% | Hold |
| CRWD | CrowdStrike | $309.55 | $321.14 | 3.74% | Buy |
| FTNT | Fortinet | $82.05 | $71.93 | -12.33% | Hold |
| PANW | Palo Alto Networks | $378.41 | $314.75 | -16.82% | Buy |
| PLTR | Palantir | $42.70 | $22.41 | -47.52% | Hold |
FTNT Forecast FAQ
Is Fortinet a good buy?
No, according to 29 Wall Street analysts, Fortinet (FTNT) is considered a 'Hold'. The rating consensus is based on 0 'Strong Buy' and 14 'Buy' recommendations, accounting for 48.28% of FTNT's total ratings.
What is FTNT's price target?
Fortinet (FTNT) average price target is $71.93 with a range of $55 to $85, implying a -12.36% from its last price of $82.07. The data is based on 29 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Fortinet stock go up soon?
According to Wall Street analysts' prediction for FTNT stock, the company can go down by -12.36% (from the last price of $82.07 to the average price target of $71.93), up by 3.57% based on the highest stock price target, and down by -32.98% based on the lowest stock price target.
Can Fortinet stock reach $120?
FTNT's average twelve months analyst stock price target of $71.93 does not support the claim that Fortinet can reach $120 in the near future.
What is Fortinet's current price target trend?
2 Wall Street analysts forecast a $75.5 price target for Fortinet (FTNT) this month, down -8.01% from its last price of $82.07. Compared to the last 3 and 12 months, the average price target decreased by -11.90% and decreased by -15.27%, respectively.
What are Fortinet's analysts' financial forecasts?
Fortinet's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $7.33B (high $7.33B, low $7.33B), average EBITDA is $1.64B (high $1.64B, low $1.64B), average net income is $1.92B (high $1.92B, low $1.92B), average SG&A $3.25B (high $3.25B, low $3.25B), and average EPS is $2.49 (high $2.49, low $2.49). FTNT's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $9.03B (high $9.03B, low $9.03B), average EBITDA is $2.02B (high $2.02B, low $2.02B), average net income is $0 (high $0, low $0), average SG&A $4B (high $4B, low $4B), and average EPS is $0 (high $0, low $0).
Did the FTNT's actual financial results beat the analysts' financial forecasts?
Based on Fortinet's last annual report (Dec 2022), the company's revenue was $4.42B, beating the average analysts forecast of $4.33B by 1.98%. Apple's EBITDA was $1.08B, beating the average prediction of $852.26M by 26.46%. The company's net income was $857.3M, beating the average estimation of $702.05M by 22.11%. Apple's SG&A was $1.86B, beating the average forecast of $1.72B by 7.62%. Lastly, the company's EPS was $1.05, beating the average prediction of $1.05 by 0.09%. In terms of the last quarterly report (Sep 2023), Fortinet's revenue was $1.33B, missing the average analysts' forecast of $1.35B by -0.99%. The company's EBITDA was $361.5M, beating the average prediction of $302.04M by 19.69%. Fortinet's net income was $322.9M, beating the average estimation of $280.06M by 15.30%. The company's SG&A was $557.9M, missing the average forecast of $597.5M by -6.63%. Lastly, the company's EPS was $0.41, beating the average prediction of $0.364 by 12.71%