Fortinet (FTNT) Stock Forecast & Price Target

$156.29 0.00 (0.00%)

As of 09/4/2026 04:00 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

$150.91
-3.44% Downside

According to the 36 analysts' twelve-month price targets for Fortinet, the average price target is $150.91. 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 -3.44% from the current price of $156.29.

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 9/7/25 to 9/7/26	1 Month Ago 8/8/25 to 8/8/26	3 Months Ago 6/9/25 to 6/9/26	1 Year Ago 9/7/24 to 9/7/25
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)	11 Buy rating(s)	6 Buy rating(s)	8 Buy rating(s)
Hold	19 Hold rating(s)	20 Hold rating(s)	24 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	$150.91	$150.91	$106.43	$97.03
Forecasted Upside	-3.44% Downside	-5.47% Downside	-23.09% Downside	23.09% 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	-3.44% Downside	412.20% Upside	14.03% 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

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Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/4/2026	Weiss Ratings 5 of 5 stars		Upgrade	Hold (C+) ➝ Buy (B-)
8/24/2026	Cantor Fitzgerald 5 of 5 stars	Jonathan Ruykhaver 4 of 5 stars	Reiterated Rating	Neutral
7/31/2026	Susquehanna 4 of 5 stars	Shyam Patil 2 of 5 stars	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%
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%
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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
7/13/2026	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shaul Eyal Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$160.00 ➝ $215.00	+36.50%
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	Sanford C. Bernstein Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Perform	$83.00	+5.83%
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 Monday at 10:24 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, September 4, 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 demonstrated strong financial performance by beating analyst expectations in its most recent quarterly report, delivering earnings per share of $0.90 against a consensus estimate of $0.75 and generating revenue of $2.05 billion, which exceeded the projected $1.89 billion. This significant beat, combined with a 25.6% year-over-year revenue increase, indicates robust demand for the company's cybersecurity solutions and suggests that the business is successfully scaling its operations to meet market needs.
The company has raised its full-year 2026 guidance, projecting earnings per share between $3.41 and $3.47, which is notably higher than the previous consensus estimate of $3.08. This upward revision in financial outlook reflects management's confidence in sustained growth and operational efficiency, providing investors with a clearer path to higher profitability and potentially stronger returns as the company executes on its strategic initiatives.
Fortinet, Inc. is currently trading at a stock price of $156.29, which is above the average analyst price target of $150.91, suggesting that the market is valuing the stock based on its strong recent performance and future growth potential. This price point, combined with the company's recent 52-week high of $173.89, indicates that investors are optimistic about the company's trajectory, particularly as it continues to expand its AI-powered security offerings and secure networking solutions.
Institutional investors are showing increased confidence in Fortinet, Inc., with several firms adding to their positions in the second quarter of 2026. For example, NEOS Investment Management LLC increased its stake by 11.5%, and Nykredit A S made a new investment of approximately $46.62 million. This influx of institutional capital often signals that professional investors see long-term value in the company, which can help stabilize the stock price and attract further retail investor interest.
Fortinet, Inc. is benefiting from the growing demand for AI-powered security solutions, as highlighted by recent analyst reports that position the company as a standout growth-at-reasonable-price (GARP) stock. The company's integration of AI into its security platforms, such as FortiAI, is expected to drive future revenue growth as enterprises seek to protect their digital assets against increasingly sophisticated cyber threats, providing a strong tailwind for the stock's performance.

Fortinet
Bear Case

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

Fortinet, Inc. is trading at a premium valuation with a P/E ratio of 55.03, which is significantly higher than the broader market average. This high multiple suggests that the stock price already reflects strong future growth expectations, leaving little room for error. If the company fails to meet these high expectations in upcoming quarters, the stock could face significant downward pressure as investors reassess its value.
The consensus rating from analysts is "Hold," with an average price target of $150.91, which is below the current stock price of $156.29. This indicates that many analysts believe the stock is fairly valued or slightly overvalued, and there is limited upside potential in the near term. Investors should be cautious about entering the stock at current levels, as the lack of a strong "Buy" consensus suggests that the market is not expecting a significant price increase in the coming months.
Recent insider activity shows that key executives, including CEO Ken Xie and VP Michael Xie, have been selling shares of Fortinet, Inc. stock. For instance, Ken Xie sold 161,482 shares in August 2026, and Michael Xie sold 3,121 shares in the same period. While these sales may be part of pre-arranged trading plans to cover tax obligations, frequent insider selling can sometimes signal a lack of confidence in the stock's short-term prospects, which may deter some investors.
Fortinet, Inc. faces intense competition in the cybersecurity sector, with rivals such as Palo Alto Networks and CrowdStrike also expanding their AI-driven security offerings. The recent market reaction to Palo Alto Networks' earnings, where the stock fell despite strong revenue growth, highlights the volatility and high expectations in the sector. Fortinet must continue to differentiate its products and maintain its competitive edge to avoid being priced out by competitors who may offer more aggressive pricing or superior technology.
The company's short interest has been relatively stable but remains a factor to consider, with approximately 14.2 million shares shorted as of August 2026. While the short percentage of float is low at 2.35%, the presence of short sellers indicates that some investors are betting against the stock's performance. This could lead to increased volatility, especially if the company misses its earnings targets or if broader market conditions turn negative, potentially amplifying any downward price movements.

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 $150.91, with a high forecast of $215.00 and a low forecast of $75.00.

36 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last twelve months. 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 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 -3.44% based on their 12-month stock forecasts.

Over the previous 90 days, Fortinet's stock had 5 upgrades and 4 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, 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 9/4/2026.

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Fortinet (FTNT) Stock Forecast & Price Target

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

Consensus Rating

Consensus Price Target

FTNT Analyst Ratings Over Time

FTNT Analyst Recommendations By Month

FTNT Price Targets by Month

Fortinet Stock vs. The Competition

Recent Analyst Forecasts and Stock Ratings

Should I Buy Fortinet Stock? FTNT Pros and Cons Explained

Fortinet
Bull Case

Fortinet
Bear Case

FTNT Forecast - Frequently Asked Questions

Stock Forecasts and Research Tools

Today's Analyst Ratings

Top-Rated Stocks

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Brokerages With Fortinet Recommendations

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Fortinet (FTNT) Stock Forecast & Price Target

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

Consensus Rating

Consensus Price Target

FTNT Analyst Ratings Over Time

FTNT Analyst Recommendations By Month

FTNT Price Targets by Month

Fortinet Stock vs. The Competition

Recent Analyst Forecasts and Stock Ratings

Should I Buy Fortinet Stock? FTNT Pros and Cons Explained

Fortinet Bull Case

Fortinet Bear Case

FTNT Forecast - Frequently Asked Questions

What is Fortinet's forecast for 2026?

Should I buy or sell Fortinet stock right now?

Does Fortinet's stock price have much downside?

Has Fortinet been upgraded or downgraded by Wall Street analysts recently?

What analysts cover Fortinet?

Do Wall Street analysts like Fortinet more than its competitors?

Stock Forecasts and Research Tools

Today's Analyst Ratings

Top-Rated Stocks

More Ratings Tools

Brokerages With Fortinet Recommendations

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

Fortinet
Bull Case

Fortinet
Bear Case