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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 | $89.89 |
| Price | $85.79 |
| Potential | 4.78% |
| Number of Estimates | 40 |
| 40 Analysts have issued a price target Fortinet, Inc. 2026 . The average Fortinet, Inc. target price is $89.89. This is 4.78% higher than the current stock price. The highest price target is $126.00 46.87% , the lowest is $67.67 21.12% . | |
| A rating was issued by 51 analysts: 17 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 2026 of 4.78% . Most analysts recommend the Fortinet, Inc. stock at Hold. |
Sales and Margin forecast 2025, 2026 to 2032
48 Analysts have issued a sales forecast Fortinet, Inc. 2025 . The average Fortinet, Inc. sales estimate is $6.9b . This is 8.65% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $7.1b 12.53% , the lowest is $6.6b 3.68% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.9b | 15.62% |
| 2026 | $7.7b | 11.65% |
| 2027 | $8.5b | 10.73% |
| 2028 | $10.1b | 19.16% |
| 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 14.64% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.6b 22.48% , the lowest is $2.3b 7.43% .
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 | $4.0b | 30.42% |
| 2029 | $4.5b | 11.76% |
EBITDA Margin
| 2024 | 32.89% | 29.24% |
|---|---|---|
| 2025 | 34.87% | 6.03% |
| 2026 | 35.16% | 0.83% |
| 2027 | 35.91% | 2.13% |
| 2028 | 39.30% | 9.44% |
| 2029 | 40.21% | 2.32% |
47 Fortinet, Inc. Analysts have issued a net profit forecast 2025. The average Fortinet, Inc. net profit estimate is $2.0b . This is 1.43% higher than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.1b 10.25% , the lowest is $1.9b 3.68% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 52.05% |
|---|---|---|
| 2025 | $2.0b | 12.73% |
| 2026 | $2.2b | 10.76% |
| 2027 | $2.4b | 11.73% |
| 2028 | $2.5b | 3.67% |
| 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 | 28.57% | 2.50% |
| 2026 | 28.34% | 0.81% |
| 2027 | 28.60% | 0.92% |
| 2028 | 24.88% | 13.01% |
| 2029 | 25.15% | 1.09% |
| 2030 | 29.64% | 17.85% |
| 2031 | 30.02% | 1.28% |
| 2032 | 37.28% | 24.18% |
Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032
47 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is $2.57 . This is 2.39% higher than earnings per share in the financial year 2024. The highest EPS forecast is $2.79 11.16% , the lowest is $2.44 2.79% .
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 | $3.18 | 11.58% |
| 2028 | $3.30 | 3.77% |
| 2029 | $3.64 | 10.30% |
| 2030 | $4.52 | 24.18% |
| 2031 | $4.98 | 10.18% |
| 2032 | $6.69 | 34.34% |
P/E ratio
| Current | 34.18 | 25.42% |
|---|---|---|
| 2025 | 33.38 | 2.34% |
| 2026 | 30.14 | 9.71% |
| 2027 | 26.98 | 10.48% |
| 2028 | 26.02 | 3.56% |
| 2029 | 23.56 | 9.45% |
| 2030 | 18.99 | 19.40% |
| 2031 | 17.24 | 9.22% |
| 2032 | 12.82 | 25.64% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 9.03 and an P/S ratio of 9.55 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 9.81 | 4.57% |
|---|---|---|
| 2025 | 9.03 | 7.97% |
| 2026 | 8.09 | 10.43% |
| 2027 | 7.30 | 9.69% |
| 2028 | 6.13 | 16.08% |
| 2029 | 5.61 | 8.47% |
| 2030 | 5.33 | 5.05% |
| 2031 | 4.90 | 8.04% |
| 2032 | 4.52 | 7.62% |
P/S ratio
| Current | 10.37 | 3.05% |
|---|---|---|
| 2025 | 9.55 | 7.96% |
| 2026 | 8.55 | 10.43% |
| 2027 | 7.72 | 9.69% |
| 2028 | 6.48 | 16.08% |
| 2029 | 5.93 | 8.47% |
| 2030 | 5.63 | 5.05% |
| 2031 | 5.18 | 8.04% |
| 2032 | 4.78 | 7.62% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| Morgan Stanley |
Equal-Weight
➜
Underweight
|
Downgrade | Sep 02 2025 |
| 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 |
| Wells Fargo |
Equal-Weight
➜
Equal-Weight
|
Unchanged | Aug 07 2025 |
| JP Morgan |
Neutral
➜
Neutral
|
Unchanged | Aug 07 2025 |
| Analyst Rating | Date |
|---|---|
|
Downgrade
Morgan Stanley:
Equal-Weight
➜
Underweight
|
Sep 02 2025 |
|
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
Wells Fargo:
Equal-Weight
➜
Equal-Weight
|
Aug 07 2025 |
|
Unchanged
JP Morgan:
Neutral
➜
Neutral
|
Aug 07 2025 |
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