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Fortinet (FTNT) Stock Forecast & Price Target

$61.35
+0.42 (+0.69%)
(As of 05/24/2024 ET)

Fortinet - Analysts' Recommendations and Stock Price Forecast (2024)

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.

Consensus Rating

Hold
Based on 32 Analyst Ratings

Consensus Price Target

$70.10
14.26% Upside
High Forecast$85.00
Average Forecast$70.10
Low Forecast$54.00
TypeCurrent Forecast
5/27/23 to 5/26/24
1 Month Ago
4/27/23 to 4/26/24
3 Months Ago
2/26/23 to 2/26/24
1 Year Ago
5/27/22 to 5/27/23
Consensus Rating
Hold
Hold
Hold
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
10 Buy rating(s)
11 Buy rating(s)
11 Buy rating(s)
25 Buy rating(s)
Hold
20 Hold rating(s)
20 Hold rating(s)
20 Hold rating(s)
7 Hold rating(s)
Sell
2 Sell rating(s)
2 Sell rating(s)
2 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$70.10$72.19$71.55$72.30
Forecasted Upside14.26% Upside7.91% Upside8.03% Upside24.30% Upside
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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.
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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.
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Fortinet Stock vs. The Competition

TypeFortinetComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.25
2.58
2.49
Consensus RatingHoldModerate BuyHold
Predicted Upside14.26% Upside191.89% Upside9.92% Upside
News Sentiment RatingPositive News
Positive News
Positive News

Recent Analyst Forecasts and Stock Ratings

DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
5/22/2024Wedbush
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 Reiterated RatingOutperform ➝ Outperform$78.00+26.89%
5/6/2024Susquehanna
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 Lower TargetNeutral ➝ Neutral$80.00 ➝ $65.00+10.39%
5/3/2024Wells Fargo & Company
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 Lower TargetEqual Weight ➝ Equal Weight$70.00 ➝ $62.00+5.26%
5/3/2024HSBC
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 Lower TargetReduce ➝ Reduce$57.00 ➝ $54.00-8.32%
5/3/2024JPMorgan Chase & Co.
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 Lower TargetNeutral ➝ Neutral$67.00 ➝ $63.00+6.96%
5/3/2024Scotiabank
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 Lower TargetSector Outperform ➝ Sector Outperform$90.00 ➝ $80.00+35.82%
5/3/2024BMO Capital Markets
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 Lower TargetMarket Perform ➝ Market Perform$82.00 ➝ $70.00+17.33%
5/3/2024Evercore ISI
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 Lower TargetIn-Line ➝ In-Line$72.00 ➝ $67.00+12.30%
5/3/2024Morgan Stanley
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 Lower TargetOverweight ➝ Overweight$81.00 ➝ $73.00+22.61%
5/3/2024Royal Bank of Canada
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 Lower TargetSector Perform ➝ Sector Perform$71.00 ➝ $68.00+14.21%
5/3/2024Truist Financial
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 Lower TargetBuy ➝ Buy$80.00 ➝ $70.00+16.26%
5/3/2024Barclays
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 Lower TargetEqual Weight ➝ Equal Weight$80.00 ➝ $75.00+24.56%
5/3/2024Cantor Fitzgerald
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J. Ruykhaver
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Lower TargetNeutral ➝ Neutral$65.00 ➝ $55.00-8.29%
5/3/2024Rosenblatt Securities
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 Reiterated RatingBuy ➝ Buy$85.00 ➝ $85.00+37.25%
5/3/2024Piper Sandler
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 Lower TargetNeutral ➝ Neutral$75.00 ➝ $70.00+13.03%
5/3/2024Mizuho
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 Lower TargetNeutral ➝ Neutral$70.00 ➝ $66.00+1.23%
5/3/2024Robert W. Baird
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 Lower TargetOutperform ➝ Outperform$81.00 ➝ $75.00+15.03%
5/3/2024Needham & Company LLC
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 Reiterated RatingHold
4/18/2024Jefferies Financial Group
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 Lower TargetHold ➝ Hold$75.00 ➝ $70.00+8.95%
2/13/2024Daiwa Capital Markets
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 UpgradeNeutral ➝ Outperform$75.00+6.75%
2/8/2024The Goldman Sachs Group
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 Boost TargetBuy ➝ Buy$60.00 ➝ $85.00+22.20%
2/8/2024DZ Bank
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 DowngradeHold ➝ Sell$60.00-14.32%
2/7/2024Stifel Nicolaus
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 Boost TargetHold ➝ Hold$52.00 ➝ $78.00+11.38%
1/18/2024Sanford C. Bernstein
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 Initiated CoverageMarket Perform$65.00+7.23%
1/17/2024Capital One Financial
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 DowngradeOverweight ➝ Equal Weight
1/10/2024UBS Group
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 Boost TargetNeutral ➝ Neutral$55.00 ➝ $65.00+9.43%
1/9/2024Citigroup
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 DowngradeBuy ➝ Neutral$60.00 ➝ $62.00+2.63%
11/3/2023William Blair
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 DowngradeOutperform ➝ Market Perform
11/3/2023Oppenheimer
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 Reiterated RatingOutperform ➝ Market Perform
8/7/2023Guggenheim
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 UpgradeNeutral ➝ Buy$70.00+23.30%
8/4/2023Raymond James
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 Lower TargetOutperform ➝ Outperform$75.00 ➝ $70.00-7.60%
8/4/2023TD Cowen
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 DowngradeOutperform ➝ Market Perform$90.00 ➝ $70.00-7.60%
6/16/2023Bank of America
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 Boost Target$75.00 ➝ $83.00+12.79%
5/5/2023Deutsche Bank Aktiengesellschaft
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 Boost Target$63.00 ➝ $65.00+0.99%
2/9/2023Loop Capital
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 Boost Target$66.00 ➝ $80.00+34.14%
2/8/2023Roth Capital
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C. Trebnick
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Reiterated RatingBuy
2/8/2023MKM Partners
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Catharine Trebnick
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Boost Target$65.00 ➝ $70.00+30.16%
1/13/2023BTIG Research
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 DowngradeBuy ➝ Neutral
11/16/2022KeyCorp
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 Lower TargetOverweight$63.00 ➝ $62.00+10.32%
10/7/2022Sumitomo Mitsui Financial Group
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 Initiated CoverageOutperform$70.00+30.26%
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9/2/2022Atlantic Securities
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 Initiated CoverageOverweight$76.00+56.54%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 01:35 PM ET.

FTNT Frequently Asked Questions

What is Fortinet's stock forecast and purchase recommendation?

According to the research reports of 32 Wall Street equities research analysts, the average twelve-month stock price forecast for Fortinet is $70.10, with a high forecast of $85.00 and a low forecast of $54.00. The consensus rating for Fortinet stock is Hold based on the current 2 sell ratings, 20 hold ratings and 10 buy ratings for FTNT. Learn more on FTNT's analyst rating history.

Do Wall Street analysts like Fortinet more than its competitors?

Analysts like Fortinet less than other "computer and technology" companies. The consensus rating for Fortinet is Hold while the average consensus rating for "computer and technology" companies is Moderate Buy. Learn more on how FTNT compares to other companies.

Does Fortinet's stock price have much upside?

According to analysts, Fortinet's stock has a predicted upside of 11.06% based on their 12-month stock forecasts.


Stock Forecasts and Research Tools

This page (NASDAQ:FTNT) was last updated on 5/26/2024 by MarketBeat.com Staff

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