Fortinet, Inc. (FTNT) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$89.95
Price Target
$86.81
Target Range
$70.00 — $104.00
Analyst Rating
Hold
Forward P/E30.2x
Trailing P/E37.0x
Forward PEG0.91
Implied Growth+20.1%
Median Target$88.00
Analyst Spread39.2%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$70
-22.2%
Consensus
$87
-3.5%
Bull Case
$104
+15.6%
Valuation Model TargetsConfidence: 84/100
Bear$23
Base$130
Bull$162
FTNT Price Target Analysis
Updated May 7, 2026As of May 7, 2026, Fortinet, Inc. (FTNT) has a Wall Street consensus price target of $86.81, based on estimates from 68 covering analysts. With the stock currently trading at $89.95, this represents a potential downside of -3.5%. The company has a market capitalization of $66.56B.
Analyst price targets range from a low of $70.00 to a high of $104.00, representing a 39% spread in expectations. The median target of $88.00 aligns closely with the consensus average.
The current analyst consensus rating is Hold, with 30 analysts rating the stock as a Buy or Strong Buy,33 rating it Hold, and 5 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, FTNT trades at a trailing P/E of 37.0x and forward P/E of 30.2x. The forward PEG ratio of 0.91 suggests the stock may be undervalued relative to its growth. Analysts expect EPS to grow +20.1% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $129.64, with bear and bull scenarios of $23.44 and $161.81 respectively. Model confidence stands at 84/100, indicating high predictability in the company's fundamentals.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Technology stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside+28.6%
Avg Forward P/E53.8x
Peers with Coverage9 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 PANWPalo Alto Networks, Inc. | $129.1B | $183.59 | $207.85 | +13.2% | Buy | 49.8x | 86 |
 CHKPCheck Point Software Technologies Ltd. | $11.9B | $114.27 | $153.94 | +34.7% | Hold | 10.9x | 63 |
 CSCOCisco Systems, Inc. | $362.9B | $91.63 | $96.50 | +5.3% | Buy | 22.1x | 73 |
 NTCTNetScout Systems, Inc. | $2.6B | $35.52 | $29.00 | -18.4% | Hold | 14.7x | 21 |
 CRWDCrowdStrike Holdings, Inc. | $118.6B | $468.07 | $528.24 | +12.9% | Buy | 96.2x | 65 |
 ZSZscaler, Inc. | $22.3B | $138.83 | $277.18 | +99.7% | Buy | 34.6x | 52 |
 CNETZW Data Action Technologies Inc. | $2M | $0.75 | — | — | — | — | — |
 VRNSVaronis Systems, Inc. | $3.2B | $27.61 | $36.00 | +30.4% | Buy | 233.2x | 34 |
 QLYSQualys, Inc. | $3.2B | $90.84 | $134.30 | +47.8% | Hold | 12.3x | 48 |
 TENBTenable Holdings, Inc. | $2.4B | $21.16 | $27.94 | +32.0% | Buy | 10.9x | 28 |
Upside Potential Comparison
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Start ComparisonFTNT — Frequently Asked Questions
Quick answers to the most common questions about buying FTNT stock.
What is the FTNT stock price target for 2026?
Wall Street's consensus price target for FTNT is $86.81, -3.5% from its current price of $89.95. The below-market target from 68 analysts suggests limited near-term appreciation.
Is FTNT a buy, sell, or hold?
FTNT has a consensus rating of "Hold" based on 68 Wall Street analysts. The rating breakdown is mixed, with 33 Hold ratings making up the largest segment. The consensus 12-month price target of $86.81 implies -3.5% downside from current levels.
Is FTNT stock overvalued or undervalued?
FTNT trades at a forward P/E of 30.2282x, representing a moderate valuation. With analysts targeting $86.81 (-3.5% implied move), the stock appears close to fair value.
How high can FTNT stock go?
The most bullish Wall Street analyst has a price target of $104 for FTNT, while the most conservative target is $70. The consensus of $86.81 represents the median expectation. Our quantitative valuation model projects a bull case target of $162 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover FTNT stock?
FTNT is heavily covered by Wall Street, with 68 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 30 have Buy ratings, 33 recommend Hold, and 5 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the FTNT stock forecast?
The 12-month FTNT stock forecast based on 68 Wall Street analysts shows a consensus price target of $86.81, with estimates ranging from $70 (bear case) to $104 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $130, with bear/bull scenarios of $23/$162.
What is FTNT's fair value based on fundamentals?
Our quantitative valuation model calculates FTNT's fair value at $130 (base case), with a bear case of $23 and bull case of $162. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 84/100.
What is FTNT's forward P/E ratio?
FTNT trades at a forward P/E ratio of 30.2x based on next-twelve-months earnings estimates compared to a trailing P/E of 37.0x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy FTNT stock?
Analysts are cautious on FTNT, with 5 Sell ratings and a price target of $86.81 (-3.5% from current price). The "Hold" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do FTNT price targets vary so much?
FTNT analyst price targets range from $70 to $104, a 39% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $86.81 consensus represents the middle ground. Our model's $23-$162 range provides an independent fundamental perspective.