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Fortinet, Inc. Forecast, price target & analysts
Fortinet, Inc. Target price 2025 - Analyst rating & recommendation
Fortinet, Inc. Classifications & Recommendation:
Fortinet, Inc. Price Target
| Target Price | $90.03 |
| Price | $79.73 |
| Potential | 12.91% |
| Number of Estimates | 39 |
| 39 Analysts have issued a price target Fortinet, Inc. 2026 . The average Fortinet, Inc. target price is $90.03. This is 12.91% higher than the current stock price. The highest price target is $126.00 58.03% , the lowest is $67.67 15.13% . | |
| A rating was issued by 50 analysts: 17 Analysts recommend Fortinet, Inc. to buy, 31 to hold and 2 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 2026 of 12.91% . Most analysts recommend the Fortinet, Inc. stock at Hold. |
Sales and Margin forecast 2025, 2026 to 2032
46 Analysts have issued a sales forecast Fortinet, Inc. 2025 . The average Fortinet, Inc. sales estimate is $6.9b . This is 5.04% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $7.1b 8.81% , the lowest is $6.6b 0.25% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.9b | 15.60% |
| 2026 | $7.7b | 11.60% |
| 2027 | $8.5b | 10.66% |
| 2028 | $10.1b | 19.30% |
| 2029 | $11.1b | 9.26% |
| 2030 | $11.7b | 5.32% |
| 2031 | $12.7b | 8.75% |
| 2032 | $13.7b | 8.25% |
22 Analysts have issued an Fortinet, Inc. EBITDA forecast 2025. The average Fortinet, Inc. EBITDA estimate is $2.4b . This is 10.63% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.6b 18.19% , the lowest is $2.3b 3.68% .
This results in the following potential growth metrics and future EBITDA Margins:
EBITDA Estimates
| 2024 | $2.0b | 45.10% |
|---|---|---|
| 2025 | $2.4b | 22.58% |
| 2026 | $2.7b | 12.58% |
| 2027 | $3.1b | 13.10% |
| 2028 | $3.9b | 28.56% |
| 2029 | $4.3b | 9.06% |
EBITDA Margin
| 2024 | 32.89% | 29.24% |
|---|---|---|
| 2025 | 34.87% | 6.03% |
| 2026 | 35.18% | 0.89% |
| 2027 | 35.95% | 2.19% |
| 2028 | 38.74% | 7.76% |
| 2029 | 38.67% | 0.18% |
45 Fortinet, Inc. Analysts have issued a net profit forecast 2025. The average Fortinet, Inc. net profit estimate is $2.0b . This is 5.15% higher than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.1b 14.23% , the lowest is $1.9b 0.60% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 52.05% |
|---|---|---|
| 2025 | $2.0b | 12.88% |
| 2026 | $2.2b | 10.70% |
| 2027 | $2.4b | 11.49% |
| 2028 | $2.5b | 3.91% |
| 2029 | $2.8b | 10.44% |
| 2030 | $3.5b | 24.10% |
| 2031 | $3.8b | 10.16% |
| 2032 | $5.1b | 34.43% |
Net Margin
| 2024 | 29.30% | 35.43% |
|---|---|---|
| 2025 | 28.61% | 2.36% |
| 2026 | 28.38% | 0.80% |
| 2027 | 28.60% | 0.78% |
| 2028 | 24.91% | 12.90% |
| 2029 | 25.17% | 1.04% |
| 2030 | 29.66% | 17.84% |
| 2031 | 30.05% | 1.31% |
| 2032 | 37.31% | 24.16% |
Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032
45 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is $2.57 . This is 4.47% higher than earnings per share in the financial year 2024. The highest EPS forecast is $2.79 13.41% , the lowest is $2.43 1.22% .
This results in the following potential growth metrics and future valuations:
Earnings Per Share
| 2024 | $2.26 | 54.79% |
|---|---|---|
| 2025 | $2.57 | 13.72% |
| 2026 | $2.85 | 10.89% |
| 2027 | $3.17 | 11.23% |
| 2028 | $3.30 | 4.10% |
| 2029 | $3.64 | 10.30% |
| 2030 | $4.52 | 24.18% |
| 2031 | $4.98 | 10.18% |
| 2032 | $6.69 | 34.34% |
P/E ratio
| Current | 32.41 | 31.88% |
|---|---|---|
| 2025 | 31.01 | 4.32% |
| 2026 | 28.01 | 9.67% |
| 2027 | 25.13 | 10.28% |
| 2028 | 24.18 | 3.78% |
| 2029 | 21.90 | 9.43% |
| 2030 | 17.64 | 19.45% |
| 2031 | 16.02 | 9.18% |
| 2032 | 11.92 | 25.59% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 8.30 and an P/S ratio of 8.61 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 8.72 | 28.35% |
|---|---|---|
| 2025 | 8.30 | 4.79% |
| 2026 | 7.44 | 10.40% |
| 2027 | 6.72 | 9.63% |
| 2028 | 5.64 | 16.18% |
| 2029 | 5.16 | 8.47% |
| 2030 | 4.90 | 5.05% |
| 2031 | 4.50 | 8.04% |
| 2032 | 4.16 | 7.62% |
P/S ratio
| Current | 9.05 | 28.45% |
|---|---|---|
| 2025 | 8.61 | 4.80% |
| 2026 | 7.72 | 10.40% |
| 2027 | 6.97 | 9.63% |
| 2028 | 5.84 | 16.18% |
| 2029 | 5.35 | 8.47% |
| 2030 | 5.08 | 5.05% |
| 2031 | 4.67 | 8.04% |
| 2032 | 4.31 | 7.62% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| JP Morgan |
Neutral
➜
Neutral
|
Unchanged | Nov 06 2025 |
| RBC Capital |
Sector Perform
➜
Sector Perform
|
Unchanged | Nov 06 2025 |
| Mizuho |
Underperform
➜
Underperform
|
Unchanged | Nov 06 2025 |
| Barclays |
Equal-Weight
➜
Equal-Weight
|
Unchanged | Nov 06 2025 |
| Jefferies |
Hold
➜
Hold
|
Unchanged | Nov 06 2025 |
| Piper Sandler |
Neutral
➜
Neutral
|
Unchanged | Nov 06 2025 |
| Baird |
Neutral
➜
Neutral
|
Unchanged | Nov 06 2025 |
| Analyst Rating | Date |
|---|---|
|
Unchanged
JP Morgan:
Neutral
➜
Neutral
|
Nov 06 2025 |
|
Unchanged
RBC Capital:
Sector Perform
➜
Sector Perform
|
Nov 06 2025 |
|
Unchanged
Mizuho:
Underperform
➜
Underperform
|
Nov 06 2025 |
|
Unchanged
Barclays:
Equal-Weight
➜
Equal-Weight
|
Nov 06 2025 |
|
Unchanged
Jefferies:
Hold
➜
Hold
|
Nov 06 2025 |
|
Unchanged
Piper Sandler:
Neutral
➜
Neutral
|
Nov 06 2025 |
|
Unchanged
Baird:
Neutral
➜
Neutral
|
Nov 06 2025 |
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