$176.33
1.65%
Nasdaq, Sep 28, 04:00 pm EDT. Closed.
ISIN
US34959E1091
Symbol
FTNT

Fortinet, Inc. Target price 2026 - Analyst rating & recommendation

Fortinet, Inc. Classifications & Recommendation

Buy
31%
Hold
58%
Sell
12%

Fortinet, Inc. Price Target

Target Price $168.30
Price $176.33
Deviation 4.55%
Number of Estimates 41
41 Analysts have issued a price target Fortinet, Inc. 2027 . The average Fortinet, Inc. target price is $168.30. This is 4.55% lower than the current stock price. The highest price target is $231.00 31.00% , the lowest is $86.86 50.74% .
A rating was issued by 52 analysts: 16 Analysts recommend Fortinet, Inc. to buy, 30 to hold and 6 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Fortinet, Inc. stock has an average upside potential 2027 of 4.55% . Most analysts recommend the Fortinet, Inc. stock at Hold.

Sales and Margin forecast 2026, 2027 to 2033

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Select at least one metric to display the chart.


Dec '25 2026
Estimates
Revenue Billion $ 6.80 8.28
14.17% 21.77%
EBITDA Margin 32.74% 37.98%
0.44% 16.00%
Net Margin 27.26% 31.11%
6.98% 14.13%

47 Analysts have issued a sales forecast Fortinet, Inc. 2026 . The average Fortinet, Inc. sales estimate is

$8.3b
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. This is
10.00% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
$8.7b 16.04%
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, the lowest is
$7.9b 4.92%
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.

This results in the following potential growth metrics:

Revenue Estimates

2025 $6.8b 14.17%
2026
$8.3b 21.77%
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2027
$9.2b 11.52%
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2028
$10.3b 11.23%
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2029
$11.2b 9.41%
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2030
$12.2b 8.23%
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2031
$13.0b 6.84%
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2032
$14.1b 8.21%
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2033
$15.3b 8.66%
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20 Analysts have issued an Fortinet, Inc. EBITDA forecast 2026. The average Fortinet, Inc. EBITDA estimate is

$3.1b
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. This is
21.16% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
$3.3b 27.90%
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, the lowest is
$2.9b 12.60%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2025 $2.2b 13.66%
2026
$3.1b 41.27%
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2027
$3.5b 12.11%
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2028
$4.2b 18.77%
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2029
$4.3b 3.32%
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2030
$4.7b 8.81%
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EBITDA Margin

2025 32.74% 0.44%
2026
37.98% 16.00%
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2027
38.18% 0.53%
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2028
40.77% 6.78%
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2029
38.51% 5.54%
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2030
38.71% 0.52%
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47 Fortinet, Inc. Analysts have issued a net profit forecast 2026. The average Fortinet, Inc. net profit estimate is

$2.6b
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. This is
21.46% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
$2.7b 27.13%
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, the lowest is
$2.5b 15.60%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2025 $1.9b 6.20%
2026
$2.6b 38.98%
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2027
$2.8b 10.12%
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2028
$3.2b 14.07%
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2029
$2.8b 14.36%
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2030
$3.0b 8.22%
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2031
$3.8b 27.39%
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2032
$3.4b 11.26%
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Net Margin

2025 27.26% 6.98%
2026
31.11% 14.13%
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2027
30.72% 1.25%
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2028
31.50% 2.54%
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2029
24.66% 21.71%
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2030
24.66% 0.00%
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2031
29.40% 19.22%
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2032
24.11% 17.99%
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Earnings per share, P/E ratio and EV/sales Estimates 2026, 2027 to 2033

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Select at least one metric to display the chart.


Dec '25 2026
Estimates
Earnings Per Share $ 2.42 3.51
7.08% 45.04%
P/E 49.40
EV/Sales 14.94

47 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is

$3.51
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. This is
22.73% higher
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than earnings per share in the financial year 2025. The highest EPS forecast is
$3.68 28.67%
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, the lowest is
$3.34 16.78%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2025 $2.42 7.08%
2026
$3.51 45.04%
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2027
$3.87 10.26%
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2028
$4.41 13.95%
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2029
$3.78 14.29%
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2030
$4.09 8.20%
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2031
$5.21 27.38%
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2032
$4.62 11.32%
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2033
$6.77 46.54%
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P/E ratio

Current 60.65 80.78%
2026
49.40 18.55%
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2027
44.86 9.19%
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2028
39.33 12.33%
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2029
45.92 16.76%
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2030
42.44 7.58%
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2031
33.31 21.51%
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2032
37.54 12.70%
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Based on analysts' sales estimates for 2026, the Fortinet, Inc. stock is valued at an EV/Sales of

14.94
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and an P/S ratio of
15.37
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.

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 16.43 70.79%
2026
14.94 9.07%
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2027
13.40 10.33%
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2028
12.04 10.10%
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2029
11.01 8.60%
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2030
10.17 7.61%
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2031
9.52 6.40%
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2032
8.80 7.59%
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2033
8.10 7.97%
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P/S ratio

Current 16.91 66.07%
2026
15.37 9.09%
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2027
13.78 10.33%
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2028
12.39 10.10%
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2029
11.33 8.60%
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2030
10.46 7.61%
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2031
9.79 6.40%
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2032
9.05 7.59%
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2033
8.33 7.97%
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Current Fortinet, Inc. Upgrades & Downgrades

Analyst Rating Action Date
Bernstein
Market Perform
➜
Market Perform
Unchanged Sep 17 2026
Susquehanna
Neutral
➜
Neutral
Unchanged Jul 31 2026
Morgan Stanley
Equal-Weight
➜
Equal-Weight
Unchanged Jul 30 2026
Cantor Fitzgerald
Neutral
➜
Neutral
Unchanged Jul 30 2026
Citigroup
Neutral
➜
Neutral
Unchanged Jul 30 2026
Barclays
Equal-Weight
➜
Equal-Weight
Unchanged Jul 30 2026
BTIG
Buy
➜
Buy
Unchanged Jul 30 2026
Analyst Rating Date
Unchanged
Bernstein:
Market Perform
➜
Market Perform
Sep 17 2026
Unchanged
Susquehanna:
Neutral
➜
Neutral
Jul 31 2026
Unchanged
Morgan Stanley:
Equal-Weight
➜
Equal-Weight
Jul 30 2026
Unchanged
Cantor Fitzgerald:
Neutral
➜
Neutral
Jul 30 2026
Unchanged
Citigroup:
Neutral
➜
Neutral
Jul 30 2026
Unchanged
Barclays:
Equal-Weight
➜
Equal-Weight
Jul 30 2026
Unchanged
BTIG:
Buy
➜
Buy
Jul 30 2026

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