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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 | $115.44 |
| Price | $96.26 |
| Potential | 19.93% |
| Number of Estimates | 34 |
| 34 Analysts have issued a price target Fortinet, Inc. 2026 . The average Fortinet, Inc. target price is $115.44. This is 19.93% higher than the current stock price. The highest price target is $135.00 40.25% , the lowest is $83.00 13.78% . | |
| A rating was issued by 45 analysts: 17 Analysts recommend Fortinet, Inc. to buy, 25 to hold and 3 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 19.93% . Most analysts recommend the Fortinet, Inc. stock at Hold. |
Sales and Margin forecast 2025, 2026 to 2029
36 Analysts have issued a sales forecast Fortinet, Inc. 2025 . The average Fortinet, Inc. sales estimate is $6.8b . This is 13.49% higher than the revenue of the last 12 months(TTM). The highest sales forecast is $6.9b 15.01% , the lowest is $6.6b 11.56% .
This results in the following potential growth metrics:
Revenue Estimates
| 2024 | $6.0b | 12.27% |
|---|---|---|
| 2025 | $6.8b | 13.49% |
| 2026 | $7.6b | 12.32% |
| 2027 | $8.6b | 13.19% |
| 2028 | $10.3b | 20.32% |
| 2029 | $11.2b | 8.48% |
16 Analysts have issued an Fortinet, Inc. EBITDA forecast 2025. The average Fortinet, Inc. EBITDA estimate is $2.3b . This is 21.15% higher than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is $2.5b 27.91% , the lowest is $2.3b 17.34% .
This results in the following potential growth metrics and future EBITDA Margins:
EBITDA Estimates
| 2024 | $1.9b | 42.35% |
|---|---|---|
| 2025 | $2.3b | 21.15% |
| 2026 | $2.7b | 15.12% |
| 2027 | $3.2b | 18.72% |
| 2028 | $3.9b | 21.10% |
| 2029 | $4.2b | 9.05% |
EBITDA Margin
| 2024 | 32.26% | 26.79% |
|---|---|---|
| 2025 | 34.44% | 6.74% |
| 2026 | 35.30% | 2.50% |
| 2027 | 37.02% | 4.87% |
| 2028 | 37.27% | 0.68% |
| 2029 | 37.46% | 0.51% |
17 Fortinet, Inc. Analysts have issued a net profit forecast 2025. The average Fortinet, Inc. net profit estimate is $1.7b . This is 3.26% lower than the net profit for the last 12 months(TTM). The highest net profit forecast is $2.0b 16.37% , the lowest is $1.5b 13.27% .
This results in the following potential growth metrics and future Net Margins:
Net Profit Estimates
| 2024 | $1.7b | 54.79% |
|---|---|---|
| 2025 | $1.7b | 3.26% |
| 2026 | $1.9b | 15.23% |
| 2027 | $2.3b | 19.68% |
| 2028 | $1.6b | 31.69% |
| 2029 | $1.7b | 6.59% |
Net Margin
| 2024 | 29.10% | 37.87% |
|---|---|---|
| 2025 | 24.81% | 14.76% |
| 2026 | 25.45% | 2.58% |
| 2027 | 26.91% | 5.74% |
| 2028 | 15.28% | 43.22% |
| 2029 | 15.01% | 1.77% |
Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2029
17 Analysts have issued a Fortinet, Inc. forecast for earnings per share. The average Fortinet, Inc. EPS is $2.19 . This is 3.10% lower than earnings per share in the financial year 2024. The highest EPS forecast is $2.63 16.37% , the lowest is $1.96 13.27% .
This results in the following potential growth metrics and future valuations:
Earnings Per Share
| 2024 | $2.26 | 54.79% |
|---|---|---|
| 2025 | $2.19 | 3.10% |
| 2026 | $2.52 | 15.07% |
| 2027 | $3.02 | 19.84% |
| 2028 | $2.06 | 31.79% |
| 2029 | $2.20 | 6.80% |
P/E ratio
| Current | 42.74 | 8.79% |
|---|---|---|
| 2025 | 44.18 | 3.37% |
| 2026 | 38.35 | 13.20% |
| 2027 | 32.04 | 16.45% |
| 2028 | 46.90 | 46.38% |
| 2029 | 44.00 | 6.18% |
Based on analysts' sales estimates for 2025, the Fortinet, Inc. stock is valued at an EV/Sales of 10.55 and an P/S ratio of 10.99 .
This results in the following potential growth metrics and future valuations:
EV/Sales
| Current | 11.97 | 25.08% |
|---|---|---|
| 2025 | 10.55 | 11.89% |
| 2026 | 9.39 | 10.97% |
| 2027 | 8.30 | 11.66% |
| 2028 | 6.89 | 16.89% |
| 2029 | 6.36 | 7.81% |
P/S ratio
| Current | 12.47 | 26.96% |
|---|---|---|
| 2025 | 10.99 | 11.89% |
| 2026 | 9.78 | 10.97% |
| 2027 | 8.64 | 11.66% |
| 2028 | 7.18 | 16.89% |
| 2029 | 6.62 | 7.81% |
Current Fortinet, Inc. Upgrades & Downgrades
| Analyst | Rating | Action | Date |
|---|---|---|---|
| Morgan Stanley |
Overweight
➜
Overweight
|
Unchanged | Mar 18 2025 |
| Susquehanna |
Neutral
➜
Neutral
|
Unchanged | Feb 10 2025 |
| Wells Fargo |
Equal-Weight
➜
Equal-Weight
|
Unchanged | Feb 07 2025 |
| Cantor Fitzgerald |
Neutral
➜
Neutral
|
Unchanged | Feb 07 2025 |
| Needham |
Hold
➜
Hold
|
Unchanged | Feb 07 2025 |
| Goldman Sachs |
Buy
➜
Buy
|
Unchanged | Feb 07 2025 |
| RBC Capital |
Sector Perform
➜
Sector Perform
|
Unchanged | Feb 07 2025 |
| Analyst Rating | Date |
|---|---|
|
Unchanged
Morgan Stanley:
Overweight
➜
Overweight
|
Mar 18 2025 |
|
Unchanged
Susquehanna:
Neutral
➜
Neutral
|
Feb 10 2025 |
|
Unchanged
Wells Fargo:
Equal-Weight
➜
Equal-Weight
|
Feb 07 2025 |
|
Unchanged
Cantor Fitzgerald:
Neutral
➜
Neutral
|
Feb 07 2025 |
|
Unchanged
Needham:
Hold
➜
Hold
|
Feb 07 2025 |
|
Unchanged
Goldman Sachs:
Buy
➜
Buy
|
Feb 07 2025 |
|
Unchanged
RBC Capital:
Sector Perform
➜
Sector Perform
|
Feb 07 2025 |
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