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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 | $80.02 |
| Potential | 40.21% |
| 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 40.21% higher than the current stock price. The highest price target is $141.75 77.14% , the lowest is $83.83 4.76% . | |
| 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 40.21% . 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 8.77% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $7.2b 13.84% , the lowest is $6.5b 2.83% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.9b | 15.75% |
| 2026 | $7.8b | 12.82% |
| 2027 | $8.8b | 13.69% |
| 2028 | $10.3b | 16.34% |
| 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 13.83% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.6b 23.14% , the lowest is $2.2b 7.24% .
This results in the following potential growth metrics and future EBITDA Margins:
EBITDA Estimates
| 2024 | $2.0b | 45.10% |
|---|---|---|
| 2025 | $2.4b | 21.71% |
| 2026 | $2.7b | 14.09% |
| 2027 | $3.2b | 15.81% |
| 2028 | $3.9b | 24.76% |
| 2029 | $4.3b | 9.06% |
EBITDA Margin
| 2024 | 32.89% | 29.24% |
|---|---|---|
| 2025 | 34.58% | 5.15% |
| 2026 | 34.97% | 1.13% |
| 2027 | 35.62% | 1.86% |
| 2028 | 38.20% | 7.24% |
| 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 0.12% lower than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.2b 15.38% , the lowest is $1.8b 6.00% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 52.05% |
|---|---|---|
| 2025 | $1.9b | 11.01% |
| 2026 | $2.2b | 13.94% |
| 2027 | $2.6b | 15.87% |
| 2028 | $2.5b | 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 | 28.10% | 4.10% |
| 2026 | 28.38% | 1.00% |
| 2027 | 28.92% | 1.90% |
| 2028 | 24.74% | 14.45% |
| 2029 | 24.85% | 0.44% |
| 2030 | 35.37% | 42.33% |
| 2031 | 35.46% | 0.25% |
| 2032 | 35.31% | 0.42% |
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 0.80% higher than earnings per share in the financial year 2024. The highest EPS forecast is $2.92 16.33% , the lowest is $2.38 5.18% .
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 | 31.88 | 27.89% |
|---|---|---|
| 2025 | 31.62 | 0.82% |
| 2026 | 27.75 | 12.24% |
| 2027 | 23.95 | 13.69% |
| 2028 | 24.07 | 0.50% |
| 2029 | 21.79 | 9.47% |
| 2030 | 14.29 | 34.42% |
| 2031 | 12.97 | 9.24% |
| 2032 | 11.89 | 8.33% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 8.38 and an P/S ratio of 8.89 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 9.11 | 7.98% |
|---|---|---|
| 2025 | 8.38 | 8.05% |
| 2026 | 7.42 | 11.36% |
| 2027 | 6.53 | 12.04% |
| 2028 | 5.61 | 14.05% |
| 2029 | 5.11 | 9.05% |
| 2030 | 4.76 | 6.68% |
| 2031 | 4.33 | 9.03% |
| 2032 | 3.96 | 8.71% |
P/S ratio
| Current | 9.67 | 6.27% |
|---|---|---|
| 2025 | 8.89 | 8.07% |
| 2026 | 7.88 | 11.37% |
| 2027 | 6.93 | 12.04% |
| 2028 | 5.96 | 14.05% |
| 2029 | 5.42 | 9.05% |
| 2030 | 5.06 | 6.68% |
| 2031 | 4.60 | 9.03% |
| 2032 | 4.20 | 8.71% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| Citigroup |
Neutral
➜
Neutral
|
Unchanged | Aug 18 2025 |
| Susquehanna |
Neutral
➜
Neutral
|
Unchanged | Aug 11 2025 |
| Evercore ISI Group |
In-Line
➜
In-Line
|
Unchanged | Aug 08 2025 |
| Barclays |
Equal-Weight
➜
Equal-Weight
|
Unchanged | Aug 07 2025 |
| BMO Capital |
Market Perform
➜
Market Perform
|
Unchanged | Aug 07 2025 |
| JP Morgan |
Neutral
➜
Neutral
|
Unchanged | Aug 07 2025 |
| Keybanc |
Overweight
➜
Sector Weight
|
Downgrade | Aug 07 2025 |
| Analyst Rating | Date |
|---|---|
|
Unchanged
Citigroup:
Neutral
➜
Neutral
|
Aug 18 2025 |
|
Unchanged
Susquehanna:
Neutral
➜
Neutral
|
Aug 11 2025 |
|
Unchanged
Evercore ISI Group:
In-Line
➜
In-Line
|
Aug 08 2025 |
|
Unchanged
Barclays:
Equal-Weight
➜
Equal-Weight
|
Aug 07 2025 |
|
Unchanged
BMO Capital:
Market Perform
➜
Market Perform
|
Aug 07 2025 |
|
Unchanged
JP Morgan:
Neutral
➜
Neutral
|
Aug 07 2025 |
|
Downgrade
Keybanc:
Overweight
➜
Sector Weight
|
Aug 07 2025 |
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