Fortinet (FTNT) Stock Forecast & Price Target

$77.55

+0.10 (+0.13%)

(As of 09/30/2024 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 33 Analyst Ratings

Sell
0

Hold
23

Buy
10

Based on 33 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 33 analysts, 23 have given a hold rating, 9 have given a buy rating, and 1 has given a strong buy rating for FTNT.

Consensus Price Target

$71.57
-7.71% Downside

According to the 33 analysts' twelve-month price targets for Fortinet, the average price target is $71.57. The highest price target for FTNT is $85.00, while the lowest price target for FTNT is $59.00. The average price target represents a forecasted downside of -7.71% from the current price of $77.55.

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FTNT Analyst Ratings Over Time

Type	Current Forecast 10/2/23 to 10/1/24	1 Month Ago 9/2/23 to 9/1/24	3 Months Ago 7/4/23 to 7/3/24	1 Year Ago 10/2/22 to 10/2/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	9 Buy rating(s)	9 Buy rating(s)	10 Buy rating(s)	25 Buy rating(s)
Hold	23 Hold rating(s)	23 Hold rating(s)	20 Hold rating(s)	9 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$71.57	$71.31	$70.03	$73.16
Forecasted Upside	-7.71% Downside	-7.04% Downside	15.32% Upside	24.78% Upside
Consensus Rating	Hold	Hold	Hold	Moderate Buy

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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.

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	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.33	2.65	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	-7.71% Downside	1,695.68% Upside	6.15% 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 to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/13/2024	Citigroup 3 of 5 stars		Boost Target	Neutral ➝ Neutral	$66.00 ➝ $76.00	+1.01%
8/8/2024	Susquehanna 2 of 5 stars		Boost Target	Neutral ➝ Neutral	$65.00 ➝ $70.00	+0.10%
8/8/2024	DZ Bank 4 of 5 stars		Upgrade	Sell ➝ Hold	$65.00	-7.05%
8/7/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Owens Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
8/7/2024	Hsbc Global Res Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Bersey Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Moderate Sell ➝ Hold
8/7/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Outperform ➝ Sector Outperform	$61.00 ➝ $75.00	+6.26%
Get the Latest News and Ratings for FTNT and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Fortinet and its competitors with MarketBeat's FREE daily newsletter.
8/7/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$63.00 ➝ $70.00	-1.38%
8/7/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$71.00 ➝ $75.00	+5.66%
8/7/2024	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Ruykhaver Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$55.00 ➝ $65.00	-8.42%
8/7/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$75.00 ➝ $80.00	+13.12%
8/7/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform ➝ Sector Perform	$68.00 ➝ $72.00	+1.81%
8/7/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$62.00 ➝ $64.00	-6.91%
8/7/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$69.00 ➝ $70.00	+1.82%
8/7/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform ➝ Market Perform	$70.00 ➝ $76.00	+10.55%
8/7/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$78.00 ➝ $78.00	+13.45%
8/7/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
8/7/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Reduce ➝ Hold	$59.00	+5.72%
8/5/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$85.00 ➝ $68.00	+21.97%
7/29/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Mcdonough Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral
7/18/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Eyal Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$75.00	+26.88%
7/17/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$73.00 ➝ $69.00	+16.85%
7/11/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$75.00 ➝ $70.00	+18.46%
5/3/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	In-Line ➝ In-Line	$72.00 ➝ $67.00	+12.30%
5/3/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$80.00 ➝ $70.00	+16.26%
5/3/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$70.00 ➝ $66.00	+1.23%
4/18/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$75.00 ➝ $70.00	+8.95%
2/13/2024	Daiwa Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform	$75.00	+6.75%
2/8/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$60.00 ➝ $85.00	+22.20%
2/7/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$52.00 ➝ $78.00	+11.38%
1/18/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform	$65.00	+7.23%
1/17/2024	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Equal Weight
11/3/2023	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform
11/3/2023	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Market Perform
8/4/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$75.00 ➝ $70.00	-7.60%
6/16/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$75.00 ➝ $83.00	+12.79%
2/9/2023	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$66.00 ➝ $80.00	+34.14%
2/8/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Trebnick Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy
2/8/2023	MKM Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating	Catharine Trebnick Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$65.00 ➝ $70.00	+30.16%
1/13/2023	BTIG Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Neutral
11/16/2022	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight	$63.00 ➝ $62.00	+10.32%
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10/7/2022	Sumitomo Mitsui Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$70.00	+30.26%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 05:15 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 Tuesday, September 10, 2024. 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's stock price has shown a positive trend, with a recent increase of 0.6% on the NASDAQ exchange.
Fortinet reported strong quarterly earnings results, beating the consensus estimate and showing a revenue increase of 10.9% year-over-year.
Fortinet's CEO and CFO have recently sold shares of the company, potentially indicating confidence in the company's future performance.
Analysts have given Fortinet a variety of ratings, with an average price target of $71.31, suggesting potential growth.
Fortinet provides cybersecurity and networking solutions globally, operating in a high-demand sector with potential for continued growth.

Fortinet
Bear Case

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

Fortinet's debt-to-equity ratio is relatively high at 3.45, which may indicate higher financial risk compared to competitors with lower ratios.
Fortinet's quick ratio of 1.22 and current ratio of 1.32 may suggest potential liquidity challenges in the short term.
Fortinet's P/E ratio of 50.14 and P/E/G ratio of 2.77 may indicate that the stock is currently trading at a premium valuation.
Insiders have sold a significant number of shares in the company over the last ninety days, raising questions about their long-term outlook on Fortinet.
While Fortinet has a market capitalization of $58.68 billion, the company's negative return on equity of 2,160.10% raises concerns about profitability.

FTNT Forecast - Frequently Asked Questions

: According to the research reports of 33 Wall Street equities research analysts, the average twelve-month stock price forecast for Fortinet is $71.57, with a high forecast of $85.00 and a low forecast of $59.00.
: 33 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last twelve months. There are currently 23 hold ratings, 9 buy ratings and 1 strong buy rating 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 -7.71% based on their 12-month stock forecasts.
: Over the previous 90 days, Fortinet's stock had 5 upgrades and 1 downgrade by analysts.
: Fortinet has been rated by research analysts at Barclays, BMO Capital Markets, Cantor Fitzgerald, Citigroup, Deutsche Bank Aktiengesellschaft, DZ Bank, Guggenheim, Hsbc Global Res, HSBC, JPMorgan Chase & Co., Morgan Stanley, Needham & Company LLC, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Royal Bank of Canada, Scotiabank, Susquehanna, TD Cowen, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
: 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.