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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 | $112.20 |
| Price | $104.82 |
| Potential | 7.04% |
| Number of Estimates | 40 |
| 40 Analysts have issued a price target Fortinet, Inc. 2026 . The average Fortinet, Inc. target price is $112.20. This is 7.04% higher than the current stock price. The highest price target is $141.75 35.23% , the lowest is $83.83 20.02% . | |
| A rating was issued by 51 analysts: 20 Analysts recommend Fortinet, Inc. to buy, 29 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 7.04% . Most analysts recommend the Fortinet, Inc. stock at Hold. |
Sales and Margin forecast 2025, 2026 to 2032
47 Analysts have issued a sales forecast Fortinet, Inc. 2025 . The average Fortinet, Inc. sales estimate is $6.9b . This is 12.22% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $7.2b 17.29% , the lowest is $6.5b 6.10% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.9b | 15.74% |
| 2026 | $7.8b | 12.81% |
| 2027 | $8.8b | 13.62% |
| 2028 | $10.3b | 16.45% |
| 2029 | $11.3b | 9.95% |
| 2030 | $12.1b | 7.16% |
| 2031 | $13.3b | 9.92% |
| 2032 | $14.6b | 9.54% |
22 Analysts have issued an Fortinet, Inc. EBITDA forecast 2025. The average Fortinet, Inc. EBITDA estimate is $2.4b . This is 14.69% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.6b 24.28% , the lowest is $2.2b 7.99% .
This results in the following potential growth metrics and future EBITDA Margins:
EBITDA Estimates
| 2024 | $2.0b | 45.10% |
|---|---|---|
| 2025 | $2.4b | 21.51% |
| 2026 | $2.7b | 14.16% |
| 2027 | $3.1b | 15.68% |
| 2028 | $3.9b | 25.04% |
| 2029 | $4.3b | 9.06% |
EBITDA Margin
| 2024 | 32.89% | 29.24% |
|---|---|---|
| 2025 | 34.53% | 5.00% |
| 2026 | 34.94% | 1.19% |
| 2027 | 35.57% | 1.80% |
| 2028 | 38.20% | 7.39% |
| 2029 | 37.89% | 0.81% |
46 Fortinet, Inc. Analysts have issued a net profit forecast 2025. The average Fortinet, Inc. net profit estimate is $1.9b . This is 3.57% higher than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.2b 19.65% , the lowest is $1.8b 2.53% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 52.05% |
|---|---|---|
| 2025 | $1.9b | 11.53% |
| 2026 | $2.2b | 13.94% |
| 2027 | $2.6b | 15.87% |
| 2028 | $2.6b | 0.49% |
| 2029 | $2.8b | 10.45% |
| 2030 | $4.3b | 52.51% |
| 2031 | $4.7b | 10.20% |
| 2032 | $5.2b | 9.09% |
Net Margin
| 2024 | 29.30% | 35.43% |
|---|---|---|
| 2025 | 28.24% | 3.63% |
| 2026 | 28.52% | 0.99% |
| 2027 | 29.09% | 2.00% |
| 2028 | 24.85% | 14.58% |
| 2029 | 24.97% | 0.48% |
| 2030 | 35.53% | 42.29% |
| 2031 | 35.62% | 0.25% |
| 2032 | 35.48% | 0.39% |
Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032
46 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is $2.53 . This is 4.12% higher than earnings per share in the financial year 2024. The highest EPS forecast is $2.92 20.16% , the lowest is $2.38 2.06% .
This results in the following potential growth metrics and future valuations:
Earnings Per Share
| 2024 | $2.26 | 54.79% |
|---|---|---|
| 2025 | $2.53 | 11.95% |
| 2026 | $2.88 | 13.83% |
| 2027 | $3.34 | 15.97% |
| 2028 | $3.32 | 0.60% |
| 2029 | $3.67 | 10.54% |
| 2030 | $5.60 | 52.59% |
| 2031 | $6.17 | 10.18% |
| 2032 | $6.73 | 9.08% |
P/E ratio
| Current | 43.14 | 24.66% |
|---|---|---|
| 2025 | 41.42 | 3.98% |
| 2026 | 36.36 | 12.22% |
| 2027 | 31.38 | 13.70% |
| 2028 | 31.53 | 0.48% |
| 2029 | 28.55 | 9.45% |
| 2030 | 18.72 | 34.43% |
| 2031 | 16.99 | 9.24% |
| 2032 | 15.57 | 8.36% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 11.09 and an P/S ratio of 11.64 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 12.45 | 62.96% |
|---|---|---|
| 2025 | 11.09 | 10.92% |
| 2026 | 9.83 | 11.36% |
| 2027 | 8.65 | 11.99% |
| 2028 | 7.43 | 14.12% |
| 2029 | 6.76 | 9.05% |
| 2030 | 6.31 | 6.68% |
| 2031 | 5.74 | 9.03% |
| 2032 | 5.24 | 8.71% |
P/S ratio
| Current | 13.06 | 61.90% |
|---|---|---|
| 2025 | 11.64 | 10.89% |
| 2026 | 10.32 | 11.36% |
| 2027 | 9.08 | 11.99% |
| 2028 | 7.80 | 14.12% |
| 2029 | 7.09 | 9.05% |
| 2030 | 6.62 | 6.68% |
| 2031 | 6.02 | 9.03% |
| 2032 | 5.50 | 8.71% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| Cantor Fitzgerald |
Neutral
➜
Neutral
|
Unchanged | Jul 16 2025 |
| Barclays |
Equal-Weight
➜
Equal-Weight
|
Unchanged | Jul 14 2025 |
| Rosenblatt |
Buy
➜
Buy
|
Unchanged | Jun 17 2025 |
| Scotiabank |
Sector Outperform
➜
Sector Outperform
|
Unchanged | May 08 2025 |
| RBC Capital |
Sector Perform
➜
Sector Perform
|
Unchanged | May 08 2025 |
| Keybanc |
Overweight
➜
Overweight
|
Unchanged | May 08 2025 |
| Wells Fargo |
Equal-Weight
➜
Equal-Weight
|
Unchanged | May 08 2025 |
| Analyst Rating | Date |
|---|---|
|
Unchanged
Cantor Fitzgerald:
Neutral
➜
Neutral
|
Jul 16 2025 |
|
Unchanged
Barclays:
Equal-Weight
➜
Equal-Weight
|
Jul 14 2025 |
|
Unchanged
Rosenblatt:
Buy
➜
Buy
|
Jun 17 2025 |
|
Unchanged
Scotiabank:
Sector Outperform
➜
Sector Outperform
|
May 08 2025 |
|
Unchanged
RBC Capital:
Sector Perform
➜
Sector Perform
|
May 08 2025 |
|
Unchanged
Keybanc:
Overweight
➜
Overweight
|
May 08 2025 |
|
Unchanged
Wells Fargo:
Equal-Weight
➜
Equal-Weight
|
May 08 2025 |
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