What is FTNT stock price target for 2026?

WallStSmart's 12-month price target for Fortinet Inc is $72.59, representing 15.7% downside from the current price of $86.11.

What is FTNT stock forecast?

Fortinet Inc forecast includes bull, base, and bear case scenarios from 2026 through 2030. Revenue and EPS projections are derived from analyst consensus and conservative extrapolation with growth deceleration for outer years.

Is FTNT undervalued based on price targets?

Our DCF intrinsic value for Fortinet Inc is $261.06, against a current price of $86.11. The margin of safety is 66.36%.

FTNT

Fortinet Inc

NASDAQ: FTNT · TECHNOLOGY · SOFTWARE - INFRASTRUCTURE

$86.11

+0.45% today

Updated 2026-04-29

Market cap

$62.41B

P/E ratio

34.86

P/S ratio

9.18x

EPS (TTM)

$2.42

Dividend yield

—

52W range

$70 – $109

Volume

6.0M

Market cap

$62.41B

P/E ratio

34.86

P/S ratio

9.18x

EPS (TTM)

$2.42

Dividend yield

—

52W range

$70 – $109

Volume

6.0M

Fortinet Inc (FTNT) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current

$86.11

Consensus

$87.56

+1.68%

2030 Target

$198.07

+130.02%

DCF

$261.06

+66.36% MoS

Current price

$86.11

Analyst consensus

$87.56

+1.68%

2030 Target

$198.07

+130.02%

Intrinsic (DCF)

$261.06

+66.36% MoS

26 analysts:

2 Buy17 Hold5 Sell

Management guidance

Fortinet forecasted 13% billings growth for 2026 during Q4 2025 earnings. The company has emphasized strong momentum in Unified SASE segment with cloud-delivered FortiSASE ARR driving growth. Management indicated sustained revenue acceleration through FortiOS 8.0 platform and AI-driven security features launched in Q1 2026.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range

Bull case (2030)

$330.12

$12.3B Rev × 20x P/S

Base case (2030)

$198.07

$12.3B Rev × 12x P/S

Bear case (2030)

$132.05

$12.3B Rev × 8x P/S

Financial forecast — research-backed

Metric	2023	2024	2025	2026 (E)	2027 (E)	2028 (E)	2029 (E)	2030 (E)
Revenue	$5.3B	$6.0B	$6.8B	$7.8B	$8.6B	$9.6B	$10.9B	$12.3B
Revenue growth	—	12.3%	14.2%	14.0%	10.5%	12.2%	13.5%	13.2%
EPS	$1.64	$2.37	$2.77	$3.04	$3.38	$3.85	$4.45	$5.15
P/S ratio	—	—	—	12.0x	12.0x	12.0x	12.0x	12.0x
Implied price	—	—	—	$123.80	$140.30	$156.81	$173.31	$198.07

Catalysts & risks

Growth catalysts

+ FortiOS 8.0 adoption with AI-driven security controls driving SASE billings growth

+ Unified SASE platform acceleration and cloud-delivered FortiSASE ARR expansion

+ Enterprise cybersecurity spending remaining elevated amid quantum threats and AI security risks

+ Cloud security and SASE market TAM expansion from $45B to $200B+ by 2030

Key risks

- Critical FortiClient EMS zero-day vulnerability (CVE-2026-35616) actively exploited, creating near-term reputation and adoption risk

- Pending securities class action lawsuit regarding August 2025 guidance miss and margin pressure disclosures

- Competitive pressure from Palo Alto Networks, CrowdStrike, and AI-driven security disruption from Anthropic

- Gross margin compression from mix shift toward SASE/cloud-delivered products at lower initial margins

- International revenue concentration creating geopolitical exposure

Methodology

Fortinet Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 26 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.