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Fortinet, Inc. Forecast, price target & analysts
Fortinet, Inc. Target price 2026 - Analyst rating & recommendation
Fortinet, Inc. Classifications & Recommendation:
Fortinet, Inc. Price Target
| Target Price | $87.72 |
| Price | $77.88 |
| Potential | 12.63% |
| Number of Estimates | 38 |
| 38 Analysts have issued a price target Fortinet, Inc. 2027 . The average Fortinet, Inc. target price is $87.72. This is 12.63% higher than the current stock price. The highest price target is $126.00 61.79% , the lowest is $70.70 9.22% . | |
| A rating was issued by 49 analysts: 15 Analysts recommend Fortinet, Inc. to buy, 32 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 2027 of 12.63% . Most analysts recommend the Fortinet, Inc. stock at Hold. |
Sales and Margin forecast 2025, 2026 to 2032
45 Analysts have issued a sales forecast Fortinet, Inc. 2025 . The average Fortinet, Inc. sales estimate is $6.9b . This is 5.10% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $7.1b 8.70% , the lowest is $6.6b 0.78% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.9b | 15.67% |
| 2026 | $7.7b | 11.24% |
| 2027 | $8.5b | 10.61% |
| 2028 | $10.0b | 18.28% |
| 2029 | $10.8b | 7.64% |
| 2030 | $11.5b | 6.30% |
| 2031 | $12.5b | 8.80% |
| 2032 | $13.5b | 8.32% |
21 Analysts have issued an Fortinet, Inc. EBITDA forecast 2025. The average Fortinet, Inc. EBITDA estimate is $2.5b . This is 16.35% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.7b 23.08% , the lowest is $2.3b 5.43% .
This results in the following potential growth metrics and future EBITDA Margins:
EBITDA Estimates
| 2024 | $2.0b | 45.10% |
|---|---|---|
| 2025 | $2.5b | 28.91% |
| 2026 | $2.8b | 9.94% |
| 2027 | $3.1b | 12.21% |
| 2028 | $3.9b | 26.16% |
| 2029 | $4.3b | 9.06% |
EBITDA Margin
| 2024 | 32.89% | 29.24% |
|---|---|---|
| 2025 | 36.65% | 11.44% |
| 2026 | 36.23% | 1.15% |
| 2027 | 36.75% | 1.44% |
| 2028 | 39.20% | 6.67% |
| 2029 | 39.72% | 1.33% |
44 Fortinet, Inc. Analysts have issued a net profit forecast 2025. The average Fortinet, Inc. net profit estimate is $2.0b . This is 8.94% higher than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.1b 14.49% , the lowest is $1.9b 4.02% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 52.05% |
|---|---|---|
| 2025 | $2.0b | 16.95% |
| 2026 | $2.2b | 8.92% |
| 2027 | $2.5b | 11.02% |
| 2028 | $2.5b | 0.35% |
| 2029 | $2.7b | 10.19% |
| 2030 | $3.3b | 23.44% |
| 2031 | $4.4b | 30.69% |
| 2032 | $4.7b | 8.49% |
Net Margin
| 2024 | 29.30% | 35.43% |
|---|---|---|
| 2025 | 29.63% | 1.12% |
| 2026 | 29.01% | 2.09% |
| 2027 | 29.12% | 0.38% |
| 2028 | 24.53% | 15.76% |
| 2029 | 25.11% | 2.36% |
| 2030 | 29.16% | 16.13% |
| 2031 | 35.03% | 20.13% |
| 2032 | 35.09% | 0.17% |
Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032
44 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is $2.75 . This is 11.79% higher than earnings per share in the financial year 2024. The highest EPS forecast is $2.89 17.48% , the lowest is $2.62 6.50% .
This results in the following potential growth metrics and future valuations:
Earnings Per Share
| 2024 | $2.26 | 54.79% |
|---|---|---|
| 2025 | $2.75 | 21.68% |
| 2026 | $2.99 | 8.73% |
| 2027 | $3.32 | 11.04% |
| 2028 | $3.31 | 0.30% |
| 2029 | $3.65 | 10.27% |
| 2030 | $4.50 | 23.29% |
| 2031 | $5.89 | 30.89% |
| 2032 | $6.39 | 8.49% |
P/E ratio
| Current | 31.66 | 34.76% |
|---|---|---|
| 2025 | 28.35 | 10.45% |
| 2026 | 26.03 | 8.18% |
| 2027 | 23.44 | 9.95% |
| 2028 | 23.52 | 0.34% |
| 2029 | 21.35 | 9.23% |
| 2030 | 17.29 | 19.02% |
| 2031 | 13.23 | 23.48% |
| 2032 | 12.20 | 7.79% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 8.10 and an P/S ratio of 8.41 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 8.51 | 31.48% |
|---|---|---|
| 2025 | 8.10 | 4.84% |
| 2026 | 7.28 | 10.10% |
| 2027 | 6.58 | 9.59% |
| 2028 | 5.56 | 15.45% |
| 2029 | 5.17 | 7.10% |
| 2030 | 4.86 | 5.93% |
| 2031 | 4.47 | 8.09% |
| 2032 | 4.13 | 7.68% |
P/S ratio
| Current | 8.84 | 31.48% |
|---|---|---|
| 2025 | 8.41 | 4.85% |
| 2026 | 7.56 | 10.10% |
| 2027 | 6.83 | 9.59% |
| 2028 | 5.78 | 15.45% |
| 2029 | 5.37 | 7.10% |
| 2030 | 5.05 | 5.93% |
| 2031 | 4.64 | 8.09% |
| 2032 | 4.28 | 7.68% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| Morgan Stanley |
Underweight
➜
Underweight
|
Unchanged | Dec 18 2025 |
| JP Morgan |
Neutral
➜
Underweight
|
Downgrade | Dec 17 2025 |
| JP Morgan |
Neutral
➜
Neutral
|
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 |
| Baird |
Neutral
➜
Neutral
|
Unchanged | Nov 06 2025 |
| Analyst Rating | Date |
|---|---|
|
Unchanged
Morgan Stanley:
Underweight
➜
Underweight
|
Dec 18 2025 |
|
Downgrade
JP Morgan:
Neutral
➜
Underweight
|
Dec 17 2025 |
|
Unchanged
JP Morgan:
Neutral
➜
Neutral
|
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
Baird:
Neutral
➜
Neutral
|
Nov 06 2025 |
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