Fortinet, Inc. (FTNT) Price Target Analysis
Updated Jun 18, 2026
Analyst Rating: Hold
Based on 68 analysts31.6% Above Target
FTNT trades 31.6% above Wall Street's consensus target of $98.95.
Current Price$144.73
Average Target$98.95
Target
Current
Low$70.00
Median$95.00
High$155.00
Analyst Target Range
Forward P/E45.9x
(Growth Premium)
PEG Ratio1.38
(Fair)
Implied Growth+19.7%
(Moderate)
Analyst Spread85.9%
(Wide Disagreement)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes FTNT achieves its forward estimates and maintains a stable P/E multiple of 45.9x. This scenario reflects the blended consensus of 68 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
FTNT Price Target Analysis
Updated June 21, 2026As of June 21, 2026, Fortinet, Inc. (FTNT) has a Wall Street consensus price target of $98.95, based on estimates from 68 covering analysts. With the stock currently trading at $144.73, this represents a potential downside of -31.6%. The company has a market capitalization of $107.09B.
Analyst price targets range from a low of $70.00 to a high of $155.00, representing a 86% spread in expectations. The median target of $95.00 aligns closely with the consensus average. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Hold, with 30 analysts rating the stock as a Buy or Strong Buy,32 rating it Hold, and 6 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 59.6x and forward P/E of 45.9x. The forward PEG ratio of 1.38 indicates reasonable valuation for growth. Analysts expect EPS to grow +19.7% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $153.20, with bear and bull scenarios of $96.52 and $201.86 respectively. Model confidence stands at 75/100, 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
+11.0%
Industry Consensus
Avg Forward P/E
67.8x
(High Premium)
Peers with Coverage
9 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 PANWPalo Alto Networks, Inc. | $196.1B | $287.78 | $324.79 | +12.9% | Buy | 76.3x | 88 |
 CHKPCheck Point Software Technologies Ltd. | $12.8B | $122.33 | $152.10 | +24.3% | Hold | 11.7x | 63 |
 CSCOCisco Systems, Inc. | $471.2B | $119.54 | $123.30 | +3.1% | Buy | 28.0x | 73 |
 NTCTNetScout Systems, Inc. | $2.8B | $39.67 | $38.00 | -4.2% | Hold | 16.4x | 21 |
 CRWDCrowdStrike Holdings, Inc. | $174.3B | $684.86 | $687.36 | +0.4% | Buy | 138.7x | 66 |
 ZSZscaler, Inc. | $20.2B | $124.85 | $193.23 | +54.8% | Buy | 30.3x | 53 |
 CNETZW Data Action Technologies Inc. | $3M | $1.00 | — | — | — | — | — |
 VRNSVaronis Systems, Inc. | $3.9B | $33.38 | $36.00 | +7.8% | Buy | 280.7x | 34 |
 QLYSQualys, Inc. | $3.9B | $111.30 | $103.00 | -7.5% | Hold | 14.7x | 48 |
 TENBTenable Holdings, Inc. | $3.1B | $26.87 | $28.81 | +7.2% | Buy | 13.8x | 28 |
FTNT — Frequently Asked Questions
Quick answers to the most common questions about buying FTNT stock.
What is the FTNT stock price target for 2026?
FTNT's consensus price target is $98.95, -31.6% below the current price of $144.73. The 68 analysts tracking FTNT see downside risk at present valuations.
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 32 Hold ratings making up the largest segment. The consensus 12-month price target of $98.95 implies -31.6% downside from current levels.
Is FTNT stock overvalued or undervalued?
At a forward P/E of 45.9431x, FTNT trades at a premium valuation. The consensus price target of $98.95 (-31.6% downside) suggests analysts may view current valuations as stretched.
How high can FTNT stock go?
The most bullish Wall Street analyst has a price target of $155 for FTNT, while the most conservative target is $70. The consensus of $98.95 represents the median expectation. Our quantitative valuation model projects a bull case target of $202 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, 32 recommend Hold, and 6 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 $98.95, with estimates ranging from $70 (bear case) to $155 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $153, with bear/bull scenarios of $97/$202.
What is FTNT's fair value based on fundamentals?
Our quantitative valuation model calculates FTNT's fair value at $153 (base case), with a bear case of $97 and bull case of $202. 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 75/100.
What is FTNT's forward P/E ratio?
FTNT trades at a forward P/E ratio of 45.9x based on next-twelve-months earnings estimates compared to a trailing P/E of 59.6x. 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 6 Sell ratings and a price target of $98.95 (-31.6% 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 $155, a 86% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $98.95 consensus represents the middle ground. Our model's $97-$202 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into FTNT consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare