FTNT trades 29.6% below Wall Street's consensus target of $154.04.
Last 12 months price action with 12-month analyst target path
The base valuation assumes FTNT achieves its forward estimates and maintains a stable P/E multiple of 33.3x. This scenario reflects the blended consensus of 70 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of November 7, 2026, Fortinet, Inc. (FTNT) has a Wall Street consensus price target of $154.04, based on estimates from 70 covering analysts. With the stock currently trading at $118.84, this represents a potential upside of +29.6%. The company has a market capitalization of $87.07B.
Analyst price targets range from a low of $102.00 to a high of $210.00, representing a 70% spread in expectations. The median target of $145.00 differs from the mean, suggesting potential outlier estimates. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Hold, with 29 analysts rating the stock as a Buy or Strong Buy,35 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 48.9x and forward P/E of 33.3x. The forward PEG ratio of 1.01 indicates reasonable valuation for growth. Analysts expect EPS to grow +15.9% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $171.50, with bear and bull scenarios of $108.05 and $225.98 respectively. Model confidence stands at 76/100, indicating high predictability in the company's fundamentals.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 PANWPalo Alto Networks, Inc. | $213.9B | $313.84 | $400.05 | +27.5% | Buy | 75.0x | 89 |
 CHKPCheck Point Software Technologies Ltd. | $14.7B | $144.17 | $150.07 | +4.1% | Hold | 14.0x | 63 |
 CSCOCisco Systems, Inc. | $369.9B | $93.85 | $131.42 | +40.0% | Buy | 21.9x | 74 |
 NTCTNetScout Systems, Inc. | $2.3B | $31.51 | $43.00 | +36.5% | Hold | 13.1x | 21 |
 CRWDCrowdStrike Holdings, Inc. | $220.9B | $216.90 | $246.37 | +13.6% | Buy | 173.0x | 67 |
 ZSZscaler, Inc. | $32.0B | $197.66 | $222.58 | +12.6% | Buy | 40.5x | 55 |
 CNETZW Data Action Technologies Inc. | $3M | $0.90 | — | — | — | — | — |
 VRNSVaronis Systems, Inc. | $5.6B | $48.80 | $50.75 | +4.0% | Hold | 276.0x | 35 |
 QLYSQualys, Inc. | $6.7B | $190.24 | $185.73 | -2.4% | Hold | 24.3x | 48 |
 TENBTenable Holdings, Inc. | $4.6B | $42.13 | $46.20 | +9.7% | Buy | 19.3x | 29 |
Quick answers to the most common questions about buying FTNT stock.
The consensus Wall Street price target for FTNT is $154.04, representing 29.6% upside from the current price of $118.84. With 70 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
FTNT has a consensus rating of "Hold" based on 70 Wall Street analysts. The rating breakdown is mixed, with 35 Hold ratings making up the largest segment. The consensus 12-month price target of $154.04 implies 29.6% upside from current levels.
FTNT trades at a forward P/E of 33.3483x, representing a moderate valuation. With analysts targeting $154.04 (29.6% implied move), the stock appears reasonably valued with upside.
The most bullish Wall Street analyst has a price target of $210 for FTNT, while the most conservative target is $102. The consensus of $154.04 represents the median expectation. Our quantitative valuation model projects a bull case target of $226 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
FTNT is heavily covered by Wall Street, with 70 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 29 have Buy ratings, 35 recommend Hold, and 6 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month FTNT stock forecast based on 70 Wall Street analysts shows a consensus price target of $154.04, with estimates ranging from $102 (bear case) to $210 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $172, with bear/bull scenarios of $108/$226.
Our quantitative valuation model calculates FTNT's fair value at $172 (base case), with a bear case of $108 and bull case of $226. 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 76/100.
FTNT trades at a forward P/E ratio of 33.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 48.9x. 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.
Wall Street analysts are very optimistic on FTNT, with a "Hold" consensus rating and $154.04 price target (29.6% upside). 29 of 70 analysts rate it Buy or Strong Buy. 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.
FTNT analyst price targets range from $102 to $210, a 70% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $154.04 consensus represents the middle ground. Our model's $108-$226 range provides an independent fundamental perspective.
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.