Fortinet (FTNT) Stock Forecast & Price Target

$169.13 -12.78 (-7.03%)

Closing price 10/16/2026 04:00 PM Eastern

Extended Trading

$168.50 -0.63 (-0.37%)

As of 10/16/2026 07:58 PM Eastern

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

Consensus Rating

Hold

Based on 38 Analyst Ratings

Sell
5

Hold
21

Buy
12

Based on 38 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 38 analysts, 5 have given a sell rating, 21 have given a hold rating, 10 have given a buy rating, and 2 have given a strong buy rating for FTNT.

Consensus Price Target

$159.09
-5.94% Downside

According to the 38 analysts' twelve-month price targets for Fortinet, the average price target is $159.09. The highest price target for FTNT is $225.00, while the lowest price target for FTNT is $80.00. The average price target represents a forecasted downside of -5.94% from the current price of $169.13.

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 10/18/25 to 10/18/26	1 Month Ago 9/18/25 to 9/18/26	3 Months Ago 7/20/25 to 7/20/26	1 Year Ago 10/18/24 to 10/18/25
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	10 Buy rating(s)	10 Buy rating(s)	6 Buy rating(s)	8 Buy rating(s)
Hold	21 Hold rating(s)	21 Hold rating(s)	23 Hold rating(s)	24 Hold rating(s)
Sell	5 Sell rating(s)	5 Sell rating(s)	5 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$159.09	$155.37	$114.81	$97.03
Forecasted Upside	-5.94% Downside	-8.52% Downside	-28.40% Downside	16.29% 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	2.24	2.23	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	-5.94% Downside	731.83% Upside	18.02% Upside
News Sentiment Rating	Positive News See Recent FTNT News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

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Rating

Upside/Downside

Action

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
10/15/2026	UBS Group 4 of 5 stars	Roger Boyd 1 of 5 stars	Reiterated Rating	Neutral	$200.00	+10.76%
10/15/2026	Mizuho 3 of 5 stars	Gregg Moskowitz 1 of 5 stars	Set Target	Underperform	$138.00 ➝ $160.00	-10.93%
10/15/2026	Wells Fargo & Company 3 of 5 stars	Richard Poland Not Rated	Boost Target	Underweight	$135.00 ➝ $160.00	-11.91%
10/13/2026	TD Cowen Subscribe to MarketBeat All Access to unlock brokerage rankings	Shaul Eyal Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Buy	$215.00 ➝ $225.00	+16.62%
10/12/2026	Barclays Subscribe to MarketBeat All Access to unlock brokerage rankings	Saket Kalia Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Equal Weight	$190.00 ➝ $210.00	+7.83%
10/12/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access to unlock brokerage rankings	Dan Bergstrom Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Sector Perform	$185.00 ➝ $205.00	+5.03%
10/8/2026	Weiss Ratings Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Buy (B-) ➝ Buy (B)
9/17/2026	Sanford C. Bernstein Subscribe to MarketBeat All Access to unlock brokerage rankings	Peter Weed Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Market Perform	$102.00 ➝ $145.00	-15.58%
8/24/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access to unlock brokerage rankings	Jonathan Ruykhaver Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Neutral
8/4/2026	Daiwa Securities Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Neutral	$115.00 ➝ $165.00	-15.28%
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7/31/2026	HSBC Subscribe to MarketBeat All Access to unlock brokerage rankings	Stephen Bersey Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target		$102.00 ➝ $107.00	-45.06%
7/31/2026	Susquehanna Subscribe to MarketBeat All Access to unlock brokerage rankings	Shyam Patil Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$115.00 ➝ $160.00	+3.73%
7/30/2026	Robert W. Baird Subscribe to MarketBeat All Access to unlock brokerage rankings	Shrenik Kothari Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Neutral	$140.00 ➝ $165.00	+6.86%
7/30/2026	Evercore Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$150.00 ➝ $165.00	+4.83%
7/30/2026	Morgan Stanley Subscribe to MarketBeat All Access to unlock brokerage rankings	Meta Marshall Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Positive	$133.00 ➝ $136.00	-15.18%
7/30/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Hold	$100.00 ➝ $160.00	-0.21%
7/30/2026	Scotiabank Subscribe to MarketBeat All Access to unlock brokerage rankings	Patrick Colville Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Sector Perform	$110.00 ➝ $163.00	+6.38%
7/30/2026	Stifel Nicolaus Subscribe to MarketBeat All Access to unlock brokerage rankings	Adam Borg Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Hold	$102.00 ➝ $175.00	+9.14%
7/30/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Buy	$116.00 ➝ $190.00	+24.00%
7/30/2026	Piper Sandler Subscribe to MarketBeat All Access to unlock brokerage rankings	Rob Owens Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Neutral	$110.00 ➝ $175.00	+14.21%
7/30/2026	HC Wainwright Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Buy
7/30/2026	Wolfe Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$175.00	+14.21%
7/30/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access to unlock brokerage rankings	Brian Essex Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Underweight	$100.00 ➝ $118.00	-39.41%
7/30/2026	Capital One Financial Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Equal Weight	$150.00 ➝ $185.00	-5.01%
7/30/2026	Jefferies Financial Group Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Hold	$165.00 ➝ $190.00	-2.44%
7/30/2026	Stephens Subscribe to MarketBeat All Access to unlock brokerage rankings	Todd Weller Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Equal Weight	$160.00 ➝ $165.00	-15.28%
7/30/2026	DZ Bank Subscribe to MarketBeat All Access to unlock brokerage rankings		Downgrade	Hold ➝ Strong Sell
7/30/2026	Citigroup Subscribe to MarketBeat All Access to unlock brokerage rankings	Fatima Boolani Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Neutral	$165.00 ➝ $185.00	+19.83%
7/30/2026	Rosenblatt Securities Subscribe to MarketBeat All Access to unlock brokerage rankings	Catharine Trebnick Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$185.00 ➝ $195.00	+27.27%
7/30/2026	BTIG Research Subscribe to MarketBeat All Access to unlock brokerage rankings	Gray Powell Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Buy	$186.00 ➝ $203.00	+32.49%
7/30/2026	BMO Capital Markets Subscribe to MarketBeat All Access to unlock brokerage rankings	Keith Bachman Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Market Perform	$170.00 ➝ $185.00	+20.74%
7/29/2026	Roth Capital Subscribe to MarketBeat All Access to unlock brokerage rankings		Boost Target	Neutral	$90.00 ➝ $110.00	-43.52%
7/27/2026	Bank of America Subscribe to MarketBeat All Access to unlock brokerage rankings	Tal Liani Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Buy
7/21/2026	William Blair Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Market Perform
7/21/2026	Truist Financial Subscribe to MarketBeat All Access to unlock brokerage rankings	Junaid Siddiqui Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Buy	$120.00 ➝ $183.00	+15.34%
7/14/2026	Zacks Research Subscribe to MarketBeat All Access to unlock brokerage rankings		Upgrade	Hold ➝ Strong-Buy
5/7/2026	Wedbush Subscribe to MarketBeat All Access to unlock brokerage rankings	Steven Wahrhaftig Subscribe to MarketBeat All Access to unlock analyst rankings	Boost Target	Outperform	$90.00 ➝ $125.00	-35.82%
5/4/2026	Compass Point Subscribe to MarketBeat All Access to unlock brokerage rankings		Set Target		$100.00	+12.27%
4/27/2026	Arete Research Subscribe to MarketBeat All Access to unlock brokerage rankings	Ellie Kearney Subscribe to MarketBeat All Access to unlock analyst rankings	Set Target	Neutral ➝ Buy	$104.00	+23.26%
2/17/2026	Freedom Capital Subscribe to MarketBeat All Access to unlock brokerage rankings		Downgrade	Strong-Buy ➝ Hold
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1/23/2026	Oppenheimer Subscribe to MarketBeat All Access to unlock brokerage rankings		Reiterated Rating	Market Perform
8/14/2025	Erste Group Bank Subscribe to MarketBeat All Access to unlock brokerage rankings		Downgrade	Buy ➝ Hold
8/7/2025	KeyCorp Subscribe to MarketBeat All Access to unlock brokerage rankings	Eric Heath Subscribe to MarketBeat All Access to unlock analyst rankings	Downgrade	Overweight ➝ Sector Weight
2/7/2025	Guggenheim Subscribe to MarketBeat All Access to unlock brokerage rankings	John DiFucci Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Neutral
2/7/2025	Needham & Company LLC Subscribe to MarketBeat All Access to unlock brokerage rankings	Matt Dezort Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Hold
1/14/2025	Raymond James Financial Subscribe to MarketBeat All Access to unlock brokerage rankings	Adam Tindle Subscribe to MarketBeat All Access to unlock analyst rankings	Reiterated Rating	Outperform ➝ Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 03:50 PM 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 Friday, October 16, 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. demonstrated strong fundamental performance in its most recent quarter, reporting revenue of $2.05 billion, which exceeded the analyst consensus estimate of $1.89 billion and represented a 25.6% year-over-year increase, indicating robust demand for its cybersecurity solutions.
The company expanded its global reach by deepening its partnership with Atos to create a comprehensive cybersecurity framework for hybrid and multi-cloud environments, combining Fortinet's security products with Atos' managed services to broaden its enterprise footprint and recurring revenue opportunities.
Fortinet, Inc. is currently trading at $169.13, a level that reflects significant growth from its 52-week low of $73.55, suggesting that the market is increasingly valuing the company's position as a long-term cybersecurity growth candidate with rising services revenue.
Institutional investor confidence is high, with 83.71% of the company's stock owned by hedge funds and other institutional investors, and recent filings show new stakes being acquired by major players like Milestone Asset Management LLC and BlackRock Inc.
Analysts have raised their price targets significantly in recent months, with Capital One Financial lifting its target to $185.00 and Wells Fargo raising its target to $160.00, reflecting a broader consensus that the company's financials exhibit above-average growth potential.

Fortinet
Bear Case

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

The stock experienced a sharp decline of 7.7% in a single session, wiping out approximately $10 billion in market value, driven by a Morgan Stanley downgrade to underweight that raised concerns about a smaller-than-expected firewall refresh cycle potentially pressuring future revenue estimates.
Fortinet, Inc. carries a high valuation with a P/E ratio of 59.55, which leaves the stock sensitive to any guidance or results that fall short of expectations, as the market has already priced in significant growth that may be difficult to sustain.
There is growing competitive pressure from potential new entrants, such as reports that OpenAI could acquire a cybersecurity startup, which raises concerns about future pricing dynamics, innovation, and market share erosion across the sector.
Insider selling activity has been notable, with executives including CEO Ken Xie and COO John Whittle selling a combined total of over 221,000 shares worth approximately $36 million in the last ninety days, which may signal a lack of confidence in the current stock price or a desire to diversify holdings.
The consensus rating from sell-side analysts remains a "Hold" with an average target price of $159.09, which is below the current stock price of $169.13, suggesting that many analysts believe the stock is currently overvalued relative to its expected future earnings.

FTNT Forecast - Frequently Asked Questions

According to the research reports of 38 Wall Street equities research analysts, the average twelve-month stock price forecast for Fortinet is $159.09, with a high forecast of $225.00 and a low forecast of $80.00.

38 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 5 sell ratings, 21 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 -5.94% based on their 12-month stock forecasts.

Over the previous 90 days, Fortinet's stock had 4 upgrades and 2 downgrades by analysts.

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

Analysts like Fortinet more than other "technology" companies. The consensus rating score for Fortinet is 2.24 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 10/15/2026.

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Fortinet (FTNT) Stock Forecast & Price Target