AI-Driven Market Growth: The current bull market, fueled by artificial intelligence (AI) since October 2022, has led to significant stock price increases, creating a perception of missed opportunities for investors, especially those with limited capital.
Datadog's Competitive Edge: Datadog, which provides IT system analysis tools, has seen substantial revenue growth driven by its AI integrations, with a notable increase in AI-native customer revenue, indicating strong demand and retention.
Fortinet's Security Solutions: Fortinet is expanding its market share with next-gen firewalls and software solutions, showing impressive revenue growth in its SASE and SecOps segments, while maintaining attractive valuation metrics for investors.
Tencent's AI Integration: Tencent is leveraging AI across its gaming and advertising platforms, resulting in increased engagement and revenue growth, despite facing supply constraints in its cloud computing segment.
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: 75.750
Low
70.00
Averages
84.18
High
100.00
Current: 75.750
Low
70.00
Averages
84.18
High
100.00
TD Cowen
Shaul Eyal
Hold
to
Buy
upgrade
$100
2026-01-23
New
Reason
TD Cowen
Shaul Eyal
Price Target
$100
AI Analysis
2026-01-23
New
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.
Truist
Buy
downgrade
$95 -> $88
2026-01-20
New
Reason
Truist
Price Target
$95 -> $88
2026-01-20
New
downgrade
Buy
Reason
Truist lowered the firm's price target on Fortinet to $88 from $95 and keeps a Buy rating on the shares as part of a broader research note previewing Q4 for Cybersecurity names. Companies in the firm's coverage should report a strong calendar Q4 and take a conservative posture for guidance, so that model setups could drive a continued beat-and-raise cadence for 2026, the analyst tells investors in a research note. Conversations with IT budget holders and software sellers indicate demand and the macro environment remains unchanged, with continued momentum in Security & AI initiatives, the firm added. Truist notes however that software equities have entered 2026 under pronounced pressure as investors rotate toward AI hardware, also pointing to concerns about AI-driven competitive disruption, slow monetization of AI features, higher-for-longer interest rates, and acute geopolitical shocks converge across the sector driving the IGV - iShares Expanded Tech-Software Sector ETF - down about 7% just in the first couple of weeks of trading.
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Piper Sandler
Rob Owens
Neutral
maintain
$85 -> $90
2026-01-05
Reason
Piper Sandler
Rob Owens
Price Target
$85 -> $90
2026-01-05
maintain
Neutral
Reason
Piper Sandler analyst Rob Owens raised the firm's price target on Fortinet to $90 from $85 and keeps a Neutral rating on the shares. The firm says 2025 proved to be a tough year for its Security & Infrastructure Software coverage, with the average name showing negative performance and only four names outperforming the NASDAQ. Piper is cautiously optimistic for a better year in 2026, with many names entering the year at interesting valuation levels setup well to be longer-term GenAI winners, despite monetization at the software layer not yet occurring at scale.
Morgan Stanley
Underweight
maintain
$66 -> $70
2025-12-18
Reason
Morgan Stanley
Price Target
$66 -> $70
2025-12-18
maintain
Underweight
Reason
Morgan Stanley raised the firm's price target on Fortinet to $70 from $66 and keeps an Underweight rating on the shares. Cybersecurity names were largely flat on the year, with platforms being up about 30%, on average, and the rest of the space being down about 12%, the analyst tells investors. The firm continues to see platforms as the "easiest way to play cyber" and expects them to continue to outperform, but believes other opportunities remain, the analyst tells investors in a year-ahead note for the group.
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.
