Fortinet Inc's stock has risen by 6.42% in pre-market trading, reaching a 20-day high.
Despite the stock's recent gains, Fortinet faces challenges with weak firewall sales, leading management to forecast only 12% revenue growth for the upcoming year. However, strong growth in its SASE and SecOps segments, which are projected to increase by 19% and 33% respectively, indicates significant profit potential in the future. This transformation in Fortinet's business model may attract investor interest, even as the overall tech sector experiences a downturn.
The implications of these developments suggest that while Fortinet's immediate revenue outlook may be cautious, the company's strategic focus on software products could position it for stronger performance in the long term.
Wall Street analysts forecast FTNT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTNT is 84.18 USD with a low forecast of 70.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Analyst Rating
Wall Street analysts forecast FTNT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTNT is 84.18 USD with a low forecast of 70.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
18 Hold
3 Sell
Hold
Current: 82.080
Low
70.00
Averages
84.18
High
100.00
Current: 82.080
Low
70.00
Averages
84.18
High
100.00
Rosenblatt
Neutral -> Buy
upgrade
$100
2026-01-29
New
Reason
Rosenblatt
Price Target
$100
AI Analysis
2026-01-29
New
upgrade
Neutral -> Buy
Reason
Rosenblatt upgraded Fortinet to Buy from Neutral with a $100 price target.
Rosenblatt
Rosenblatt
Neutral -> Buy
upgrade
$85 -> $100
2026-01-29
New
Reason
Rosenblatt
Rosenblatt
Price Target
$85 -> $100
2026-01-29
New
upgrade
Neutral -> Buy
Reason
Rosenblatt upgraded Fortinet (FTNT) to Buy from Neutral with a price target of $100, up from $85, ahead of the Q4 report on February 5. Recent channel checks with five resellers point to a "meaningful inflection" in demand for Fortinet, the analyst tells investors in a research note. The firm believes the combination of a "broad-based" hardware refresh cycle that is increasingly displacing aging Cisco (CSCO) firewall systems, "aggressive" Q4 sales execution, and favorable tax incentives creates a "compelling setup" for a "beat and raise" quarter for Fortinet.
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Oppenheimer
Oppenheimer
Perform
maintain
2026-01-23
Reason
Oppenheimer
Oppenheimer
Price Target
2026-01-23
maintain
Perform
Reason
Keeping a Perform rating on Fortinet, Oppenheimer says the firm's checks indicated stable FW share dynamics in Q4 2025 but a declining 2026 EoS refresh opportunity. Therefore, the firm maintains an in-line stance on Q4 2025 but lowers its 2026 product and services revenue growth outlook. Oppenheimer expects continued Services deceleration through the first half of 2026 before accelerating in the second half of the year. Positively, it sees potential for improvement in SASE growth rates near term, as Lacework stabilizes. Overall, the firm still views Fortinet as a mixed story.
TD Cowen
Shaul Eyal
Hold
to
Buy
upgrade
$100
2026-01-23
Reason
TD Cowen
Shaul Eyal
Price Target
$100
2026-01-23
upgrade
Hold
to
Buy
Reason
TD Cowen analyst Shaul Eyal upgraded Fortinet to Buy from Hold with an unchanged price target of $100. The firm says its channel checks on Fortinet suggest stability throughout fiscal 2026. The firm sees upside to Q4 billings and revenue estimates and believes its fiscal 2026 billings estimate of 11.6% will be revised higher. Artificial intelligence is "not eating security software but rather augmenting it," the analyst tells investors in a research note. TD views Fortinet's valuation as "reasonable" at current share levels.
About FTNT
Fortinet, Inc. is engaged in cybersecurity, driving the convergence of networking and security. The Company’s integrated platform, Fortinet Security Fabric, spans secure networking, unified Secure Access Service Edge (SASE) and artificial intelligence (AI)-driven security operations (SecOps). Its products and services include FortiOS, FortiASIC, FortiCloud, FortiAI, FortiEndpoint, and OT Security. The FortiGuard Labs is a cybersecurity threat intelligence and research organization comprised of experienced threat hunters, researchers, analysts, engineers and data scientists who develop and utilize machine learning and AI technologies. FortiGuard and Other Security Services are a suite of AI-powered security capabilities that are integrated as part of the Fortinet Security Fabric to deliver coordinated detection and enforcement across the entire attack surface. FortiCare Technical Support Service is a per-device technical support service. It also operates Fortinet Training Institute.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
