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Fortinet (FTNT) Stock Forecast, Price Target & Predictions

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FTNT Stock Forecast

Fortinet stock forecast is as follows: an average price target of $74.96 (represents a -18.92% downside from FTNT’s last price of $92.45) and a rating consensus of 'Hold', based on 27 wall street analysts offering a 1-year stock forecast.

FTNT Price Target

The average price target for Fortinet (FTNT) is $74.96 based on 1-year price targets from 27 Wall Street analysts in the past 3 months, with a price target range of $111.00 to $55.00. This represents a potential -18.92% downside from FTNT's last price of $92.45.

FTNT Analyst Ratings

Hold

According to 27 Wall Street analysts, Fortinet's rating consensus is 'Hold'. The analyst rating breakdown for FTNT stock is 0 'Strong Buy' (0.00%), 13 'Buy' (48.15%), 14 'Hold' (51.85%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Fortinet Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Nov 19, 2024Catherine TrebnickRosenblatt Securities$100.00$69.6943.49%8.17%
Nov 11, 2024Stephen BerseyHSBC$111.00$97.1814.22%20.06%
Nov 08, 2024Keith BachmanBMO Capital$88.00$78.1812.56%-4.81%
Nov 04, 2024Saket KaliaBarclays$85.00$78.847.81%-8.06%
Oct 31, 2024Catherine TrebnickRosenblatt Securities$85.00$78.747.95%-8.06%
Oct 23, 2024Junaid SiddiquiTruist Financial$85.00$80.705.33%-8.06%
Oct 17, 2024Gregg MoskowitzMizuho Securities$68.00$82.12-17.19%-26.45%
Sep 23, 2024Stephen BerseyHSBC$83.00$77.666.88%-10.22%
Sep 13, 2024Janice QuekCFRA$84.00$75.0811.89%-9.14%
Sep 13, 2024Fatima BoolaniCitigroup$76.00$74.492.03%-17.79%
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The latest Fortinet stock forecast, released on Nov 19, 2024 by Catherine Trebnick from Rosenblatt Securities, set a price target of $100.00, which represents a 43.49% increase from the stock price at the time of the forecast ($69.69), and a 8.17% increase from FTNT last price ($92.45).

Fortinet Price Target by Period

1M3M12M
# Anlaysts61028
Avg Price Target$92.33$86.50$75.04
Last Closing Price$92.45$92.45$92.45
Upside/Downside-0.13%-6.44%-18.83%

In the current month, the average price target of Fortinet stock is $92.33, according to 6 Wall Street analysts offering twelve months forecast. The average price target represents a -0.13% decrease as opposed to Fortinet's last price of $92.45. This month's average price target is up 6.74% compared to last quarter, and up 23.04% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Nov 04, 2024BarclaysMixedMixedHold
Oct 23, 2024WedbushUnderperformUnderperformHold
Oct 17, 2024OTR Global-PositiveUpgrade
Oct 09, 2024Cowen & Co.BuyBuyHold
Oct 07, 2024Wells FargoSector OutperformSector OutperformHold
Sep 23, 2024HSBCHoldHoldHold
Sep 13, 2024Wells FargoSector OutperformSector OutperformHold
Sep 13, 2024CFRABuyBuyHold
Sep 13, 2024CitigroupNeutralNeutralHold
Aug 08, 2024SusquehannaNeutralNeutralHold
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Fortinet's last stock rating was published by Barclays on Nov 04, 2024. The company gave FTNT a "Mixed" rating, the same as its previous rate.

Fortinet Financial Forecast

Fortinet Revenue Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 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$1.86B$1.78B$1.70B$1.78B$1.68B$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$2.48B$2.34B$2.23B$2.14B$2.00B$1.89B$1.81B$1.73B$1.81B$1.71B$1.63B$1.56B$1.60B$1.48B$1.41B$1.34B$1.44B$1.36B$1.33B$1.22B$1.32B$1.12B$1.03B$884.93M$960.24M$811.55M$745.14M$680.73M$722.47M$639.19M
Low Forecast$2.40B$2.27B$2.16B$2.07B$1.94B$1.83B$1.75B$1.68B$1.76B$1.66B$1.58B$1.51B$1.58B$1.48B$1.40B$1.34B$1.38B$1.32B$1.29B$1.18B$1.28B$1.12B$1.03B$884.93M$960.24M$811.55M$745.14M$680.73M$722.47M$639.19M
# Analysts15999913179881019241277152926162113132027171426144
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 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20
# Analysts15999913179881019241277152926162113132027171426144
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$547.35M$517.24M$491.44M$472.14M$442.24M$418.11M$399.68M$382.92M$400.52M$378.09M$360.06M$343.83M$358.34M$332.50M$315.69M$160.02M$316.64M$302.89M$293.08M$145.47M$237.96M$251.99M$230.06M$132.25M$215.17M$181.85M$166.97M$123.77M$161.89M$143.23M
High Forecast$557.02M$526.38M$500.12M$480.48M$450.05M$425.49M$406.74M$389.68M$407.59M$384.77M$366.42M$350.62M$360.59M$332.64M$315.86M$192.02M$323.38M$306.57M$298.26M$174.57M$285.55M$251.99M$230.06M$158.70M$215.17M$181.85M$166.97M$148.52M$161.89M$143.23M
Low Forecast$539.71M$510.02M$484.59M$465.55M$436.07M$412.28M$394.10M$377.58M$394.93M$372.82M$355.04M$339.31M$356.08M$332.37M$315.52M$128.02M$309.91M$295.72M$289.00M$116.38M$190.37M$251.99M$230.06M$105.80M$215.17M$181.85M$166.97M$99.02M$161.89M$143.23M
Surprise %-----------------1.19%1.13%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 $316.64M, with a high of $323.38M and a low of $309.91M. This is -12.41% lower than Fortinet's previous annual EBITDA (Sep 23) of $361.50M.

Fortinet Net Income Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20
# Analysts15999913179881019241277152926162113132027171426144
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----$558.10M$542.21M$500.76M$450.44M$520.25M$495.44M$452.11M$409.48M$467.83M$399.77M$315.87M$138.16M$333.31M$280.79M$264.58M$125.60M$203.67M$214.99M$169.20M$114.18M$176.89M$144.98M$135.18M$97.06M$148.72M$120.00M
High Forecast----$570.92M$554.67M$512.26M$460.79M$532.20M$506.82M$462.50M$456.73M$500.65M$402.06M$315.95M$165.79M$348.81M$296.39M$270.65M$150.72M$244.41M$214.99M$169.20M$137.02M$176.89M$144.98M$135.18M$116.47M$148.72M$120.00M
Low Forecast----$547.98M$532.39M$491.68M$442.28M$510.82M$486.46M$443.91M$330.73M$402.17M$397.49M$315.79M$110.53M$325.56M$272.99M$259.78M$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 $333.31M, with a range of $325.56M to $348.81M. FTNT's average Quarter net income forecast represents a 3.22% increase compared to the company's last Quarter net income of $322.90M (Sep 23).

Fortinet SG&A Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20
# Analysts15999913179881019241277152926162113132027171426144
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$971.01M$932.87M$873.79M$826.11M$789.70M$756.58M$791.36M$747.05M$711.42M$679.36M$708.02M$656.97M$623.76M$425.45M$625.64M$598.46M$579.08M$386.78M$418.60M$498.49M$455.12M$351.62M$425.65M$359.74M$330.31M$304.22M$320.25M$283.34M
High Forecast$1.10B$1.04B$988.17M$949.35M$889.23M$840.71M$803.66M$769.95M$805.34M$760.25M$724.00M$692.76M$712.47M$657.24M$624.09M$510.54M$638.95M$605.74M$589.32M$464.13M$502.32M$498.49M$455.12M$421.94M$425.65M$359.74M$330.31M$365.06M$320.25M$283.34M
Low Forecast$1.07B$1.01B$957.47M$919.86M$861.61M$814.59M$778.69M$746.03M$780.32M$736.64M$701.50M$670.42M$703.57M$656.71M$623.43M$340.36M$612.33M$584.29M$571.01M$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 $625.64M, based on 15 Wall Street analysts, with a range of $612.33M to $638.95M. The forecast indicates a 12.14% rise compared to FTNT last annual SG&A of $557.90M (Sep 23).

Fortinet EPS Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20
# Analysts15999913179881019241277152926162113132027171426144
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----$0.72$0.70$0.65$0.58$0.67$0.64$0.59$0.53$0.61$0.52$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----$0.74$0.72$0.66$0.60$0.69$0.66$0.60$0.59$0.65$0.52$0.41$0.38$0.45$0.38$0.35$0.29$0.40$0.28$0.22$0.16$0.23$0.19$0.18$0.15$0.19$0.16
Low Forecast----$0.71$0.69$0.64$0.57$0.66$0.63$0.58$0.43$0.52$0.51$0.41$0.38$0.42$0.35$0.34$0.28$0.38$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

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
PATHUiPath$12.87$25.4397.59%Hold
OKTAOkta$73.69$116.9758.73%Hold
MDBMongoDB$281.76$373.2732.48%Buy
ADBEAdobe$499.50$592.0318.52%Buy
ZSZscaler$200.94$233.4116.16%Buy
NETCloudflare$96.47$95.45-1.06%Hold
CRWDCrowdStrike$350.15$321.14-8.29%Buy
PANWPalo Alto Networks$392.89$323.26-17.72%Buy
FTNTFortinet$92.45$74.96-18.92%Hold
PLTRPalantir$62.12$24.34-60.82%Hold

FTNT Forecast FAQ

Is Fortinet a good buy?

No, according to 27 Wall Street analysts, Fortinet (FTNT) is considered a 'Hold'. The rating consensus is based on 0 'Strong Buy' and 13 'Buy' recommendations, accounting for 48.15% of FTNT's total ratings.

What is FTNT's price target?

Fortinet (FTNT) average price target is $74.96 with a range of $55 to $111, implying a -18.92% from its last price of $92.45. The data is based on 27 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 -18.92% (from the last price of $92.45 to the average price target of $74.96), up by 20.06% based on the highest stock price target, and down by -40.51% based on the lowest stock price target.

Can Fortinet stock reach $140?

FTNT's average twelve months analyst stock price target of $74.96 does not support the claim that Fortinet can reach $140 in the near future.

What is Fortinet's current price target trend?

6 Wall Street analysts forecast a $92.33 price target for Fortinet (FTNT) this month, down -0.13% from its last price of $92.45. Compared to the last 3 and 12 months, the average price target decreased by -6.44% and decreased by -18.83%, 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 $7.31B (high $7.44B, low $7.21B), average EBITDA is $1.64B (high $1.67B, low $1.62B), average net income is $2.05B (high $2.1B, low $2.01B), average SG&A $3.25B (high $3.3B, low $3.2B), and average EPS is $2.66 (high $2.72, low $2.61). FTNT's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $9.03B (high $9.19B, low $8.9B), average EBITDA is $2.03B (high $2.06B, low $2B), average net income is $0 (high $0, low $0), average SG&A $4.01B (high $4.08B, low $3.95B), 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 $302.89M by 19.35%. Fortinet's net income was $322.9M, beating the average estimation of $280.79M by 15.00%. The company's SG&A was $557.9M, missing the average forecast of $598.46M by -6.78%. Lastly, the company's EPS was $0.41, beating the average prediction of $0.364 by 12.71%