Fortinet (FTNT) Stock Forecast & Price Target

$169.84 -2.74 (-1.59%)

Closing price 09/18/2026 04:00 PM Eastern

Extended Trading

$170.68 +0.84 (+0.50%)

As of 09/18/2026 07:56 PM Eastern

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Fortinet - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Hold

Based on 36 Analyst Ratings

Sell
5

Hold
19

Buy
12

Based on 36 Wall Street analysts who have issued ratings for Fortinet in the last 12 months, the stock has a consensus rating of "Hold." Out of the 36 analysts, 5 have given a sell rating, 19 have given a hold rating, 10 have given a buy rating, and 2 have given a strong buy rating for FTNT.

Consensus Price Target

$152.79
-10.04% Downside

According to the 36 analysts' twelve-month price targets for Fortinet, the average price target is $152.79. The highest price target for FTNT is $215.00, while the lowest price target for FTNT is $75.00. The average price target represents a forecasted downside of -10.04% from the current price of $169.84.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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FTNT Analyst Ratings Over Time

Type	Current Forecast 9/19/25 to 9/19/26	1 Month Ago 8/20/25 to 8/20/26	3 Months Ago 6/21/25 to 6/21/26	1 Year Ago 9/19/24 to 9/19/25
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	10 Buy rating(s)	11 Buy rating(s)	6 Buy rating(s)	8 Buy rating(s)
Hold	19 Hold rating(s)	18 Hold rating(s)	25 Hold rating(s)	23 Hold rating(s)
Sell	5 Sell rating(s)	5 Sell rating(s)	4 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$152.79	$150.91	$107.77	$97.03
Forecasted Upside	-10.04% Downside	0.08% Upside	-25.54% Downside	15.23% Upside
Consensus Rating	Hold	Hold	Hold	Hold

FTNT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

FTNT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Fortinet Stock vs. The Competition

Type	Fortinet	Technology Companies	Broader Market
Consensus Rating Score	2.25	2.23	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	-10.04% Downside	724.36% Upside	18.42% Upside
News Sentiment Rating	Positive News See Recent FTNT News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/17/2026	Sanford C. Bernstein 3 of 5 stars	Peter Weed 4 of 5 stars	Reiterated Rating	Market Perform	$102.00 ➝ $145.00	-15.58%
9/16/2026	TD Cowen 3 of 5 stars	Shaul Eyal 2 of 5 stars	Reiterated Rating	Buy
9/4/2026	Weiss Ratings 5 of 5 stars		Upgrade	Hold (C+) ➝ Buy (B-)
8/24/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jonathan Ruykhaver Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral
7/31/2026	Susquehanna Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shyam Patil Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$115.00 ➝ $160.00	+3.73%
7/30/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Dan Bergstrom Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Sector Perform	$160.00 ➝ $185.00	+19.81%
7/30/2026	Robert W. Baird Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shrenik Kothari Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$165.00	+6.86%
7/30/2026	Evercore Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$165.00	+4.83%
7/30/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Meta Marshall Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Positive	$133.00 ➝ $136.00	-15.18%
7/30/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Hold	$160.00	-0.21%
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7/30/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Roger Boyd Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral	$180.00	+12.26%
7/30/2026	Scotiabank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Patrick Colville Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Sector Perform	$163.00	+6.38%
7/30/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Adam Borg Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Hold	$102.00 ➝ $175.00	+9.14%
7/30/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy	$190.00	+24.00%
7/30/2026	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Rob Owens Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral	$110.00 ➝ $175.00	+14.21%
7/30/2026	HC Wainwright Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy
7/30/2026	Wells Fargo & Company Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Richard Poland Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Underweight	$120.00 ➝ $135.00	-11.89%
7/30/2026	Wolfe Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$175.00	+14.21%
7/30/2026	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Saket Kalia Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Equal Weight	$170.00 ➝ $190.00	+24.00%
7/30/2026	DZ Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Hold ➝ Strong Sell
7/30/2026	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Fatima Boolani Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$165.00 ➝ $185.00	+19.83%
7/30/2026	Rosenblatt Securities Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Catharine Trebnick Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$185.00 ➝ $195.00	+27.27%
7/30/2026	BTIG Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gray Powell Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$186.00 ➝ $203.00	+32.49%
7/30/2026	BMO Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Keith Bachman Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Market Perform	$170.00 ➝ $185.00	+20.74%
7/27/2026	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Tal Liani Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy
7/21/2026	William Blair Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Perform
7/21/2026	Truist Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Junaid Siddiqui Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Buy	$120.00 ➝ $183.00	+15.34%
7/15/2026	Mizuho Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gregg Moskowitz Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Underperform	$86.00 ➝ $125.00	-25.07%
7/14/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold ➝ Strong-Buy
6/29/2026	HSBC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Stephen Bersey Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade	Hold ➝ Reduce	$102.00	-34.37%
5/7/2026	Stephens Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Todd Weller Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Equal Weight	$94.00 ➝ $115.00	+27.85%
5/7/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Brian Essex Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Underweight	$73.00 ➝ $75.00	-30.29%
5/4/2026	Compass Point Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$100.00	+12.27%
4/27/2026	Arete Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ellie Kearney Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Neutral ➝ Buy	$104.00	+23.26%
2/17/2026	Freedom Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
2/6/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Joseph Gallo Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$90.00	+14.03%
2/6/2026	Wedbush Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Daniel Ives Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform	$90.00	+14.03%
1/23/2026	Oppenheimer Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Perform
11/12/2025	Daiwa Securities Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Outperform ➝ Neutral	$86.00	+2.80%
8/14/2025	Erste Group Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Buy ➝ Hold
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8/7/2025	KeyCorp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Eric Heath Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade	Overweight ➝ Sector Weight
4/22/2025	Roth Capital Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Taz Koujalgi Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Neutral	$103.00	+9.14%
2/7/2025	Guggenheim Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	John DiFucci Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral
2/7/2025	Needham & Company LLC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Matt Dezort Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Hold
1/14/2025	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Adam Tindle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Outperform ➝ Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 01:08 AM ET.

Should I Buy Fortinet Stock? FTNT Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, September 17, 2026. Please send any questions or comments about these Fortinet pros and cons to contact@marketbeat.com.

Fortinet
Bull Case

Here are some ways that investors could benefit from investing in Fortinet, Inc.:

Fortinet, Inc. recently reported strong financial performance for the quarter ended July 29, 2026, with revenue of $2.05 billion, which exceeded analyst estimates of $1.89 billion and represented a 25.6% year-over-year increase. This significant revenue growth, combined with an earnings per share of $0.90 that beat the consensus estimate of $0.75, demonstrates the company's ability to drive top-line expansion and profitability, which is a key driver for stock price appreciation.
The company has provided optimistic guidance for the full fiscal year 2026, projecting earnings per share between $3.41 and $3.47, which is well above the average sell-side analyst forecast of $3.07. This guidance suggests that management expects continued strong momentum and operational efficiency, potentially leading to further upside in the stock price as the company delivers on these higher expectations.
Fortinet, Inc. has been named a Leader in the 2026 Gartner Magic Quadrant for Hybrid Mesh Firewall, a prestigious recognition that validates its competitive positioning in a critical cybersecurity market. This industry leadership helps solidify its market share and brand strength, which can translate into sustained customer retention and new business opportunities, supporting long-term revenue stability.
Technical indicators show improving short-term momentum, as the stock recently moved above its 20-day and 50-day moving averages. These technical breakouts are often interpreted by traders as signals of a bullish trend, suggesting that the current upward price movement may have further room to run as investor sentiment shifts positively.
Fortinet, Inc. is currently trading at $172.58, which is near its 52-week high of $176.10, reflecting strong market confidence in its recent performance. The stock's beta of 1.06 indicates it moves in line with the broader market, but its recent outperformance and strong fundamentals suggest it may continue to attract investor interest, especially as it expands its U.S. presence with new innovation hubs in New York City and Calgary.

Fortinet
Bear Case

Investors should be bearish about investing in Fortinet, Inc. for these reasons:

Fortinet, Inc. has a high price-to-earnings ratio of 60.77, which is significantly above the market average and suggests that the stock is expensive relative to its current earnings. This high valuation leaves little room for error, as any disappointment in future earnings or revenue growth could lead to a significant decline in the stock price, making it vulnerable to profit-taking.
Recent insider selling activity, including COO John Whittle selling a combined 56,700 shares for approximately $9.4 million in mid-September 2026, may weigh on investor sentiment. Although these sales were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary bearish signal, the reduction in insider ownership by about 35.7% could still be perceived negatively by some investors.
The consensus rating from sell-side analysts is "Hold" with a target price of $150.91, which is below the current stock price of $172.58. This suggests that many analysts believe the stock is fairly valued or even overvalued at its current level, indicating limited upside potential and a higher risk of downside if the stock reverts to its mean.
Fortinet, Inc. faces increasing competition from other cybersecurity firms, such as Palo Alto Networks, which is aggressively pushing its SASE (Secure Access Service Edge) solutions. Palo Alto Networks' SASE bookings surged 40% in fiscal 2026, posing a direct threat to Fortinet's market share in this important segment and potentially pressuring its pricing power and growth prospects.
The company's debt-to-equity ratio of 0.32, while manageable, indicates a moderate level of leverage. In a rising interest rate environment, this could increase borrowing costs and reduce financial flexibility, potentially impacting the company's ability to invest in new technologies or expand its operations, which could be a concern for long-term growth.

FTNT Forecast - Frequently Asked Questions

According to the research reports of 36 Wall Street equities research analysts, the average twelve-month stock price forecast for Fortinet is $152.79, with a high forecast of $215.00 and a low forecast of $75.00.

36 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 5 sell ratings, 19 hold ratings, 10 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" FTNT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTNT, but not buy additional shares or sell existing shares.

According to analysts, Fortinet's stock has a predicted downside of -10.04% based on their 12-month stock forecasts.

Over the previous 90 days, Fortinet's stock had 4 upgrades and 3 downgrades by analysts.

Fortinet has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, BTIG Research, Cantor Fitzgerald, Citigroup, Deutsche Bank Aktiengesellschaft, DZ Bank, Evercore, HC Wainwright, HSBC, Mizuho, Morgan Stanley, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Royal Bank Of Canada, Sanford C. Bernstein, Scotiabank, Stifel Nicolaus, Susquehanna, TD Cowen, The Goldman Sachs Group, Truist Financial, UBS Group, Weiss Ratings, Wells Fargo & Company, William Blair, Wolfe Research, and Zacks Research in the past 90 days.

Analysts like Fortinet more than other "technology" companies. The consensus rating score for Fortinet is 2.25 while the average consensus rating score for "technology" companies is 2.23. Learn more on how FTNT compares to other companies.

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MarketBeat monitors more than a dozen sources for Fortinet analyst ratings, with the most recent rating issued on 9/17/2026.

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Fortinet (FTNT) Stock Forecast & Price Target