Digital Transformation Will Expand Integrated Cybersecurity Solutions

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

19 Aug 24

Updated

05 Dec 25

Views

850

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

-15.9%

7D

-3.3%

Loading

1Y

-15.9%

7D

-3.3%

You can edit this narrative until Dec 6 11:05 AM. Then, changes will post as Updates.

Author's Valuation

US$87.458.8% undervalued

AnalystConsensusTarget Fair Value

Shared on 05 Dec 25

FTNT: Firewall Cycle, AI Initiatives And Lawsuit Will Shape Stock Path

Analysts have modestly reduced their price target on Fortinet to about $87 per share. This reflects more cautious views on the stock's risk profile and future earnings multiples, despite solid recent revenue and margin performance.

Shared on 21 Nov 25

Fair value Decreased 0.97%

FTNT: Firewall Refresh Cycle Maturity Will Influence Stock Performance Ahead

Analysts have slightly lowered their fair value estimate for Fortinet to $87.45 from $88.30, citing modestly reduced growth projections and tempered expectations following recent industry downgrades and updates to price targets. Analyst Commentary Recent street research on Fortinet reflects a mix of cautious and optimistic outlooks, as analysts assess the company's performance and future prospects in light of industry trends and earnings results.

Shared on 07 Nov 25

Fair value Decreased 2.24%

FTNT: Firewall Refresh Cycle And Market Dynamics Will Shape Medium-Term Prospects

Fortinet's analyst price target has been revised downward, dropping from approximately $90.32 to $88.30. Analysts cite tempered expectations for core firewall growth and evolving revenue and margin forecasts, despite some improvements in guidance.

Shared on 08 Aug 25

Fair value Decreased 18%

Fortinet’s fair value estimate has been significantly lowered, primarily due to a notable contraction in its forward P/E multiple despite stable revenue growth forecasts, resulting in the consensus price target dropping from $109.88 to $93.46. What's in the News Fortinet announced a major expansion of its FortiCloud platform, introducing FortiIdentity (cloud-native identity management), FortiDrive (secure storage), and FortiConnect (protected communications), all natively integrated with its Security Fabric, furthering its unified platform strategy and supporting hybrid workforces with global infrastructure investments (Key Developments, 2025-08-06).

Shared on 07 May 25

Fair value Decreased 6.28%

Shared on 30 Apr 25

Fair value Decreased 0.034%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 23 Apr 25

Fair value Decreased 0.25%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 16 Apr 25

Fair value Decreased 0.94%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 3.44%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Increased 0.24%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 10 Mar 25

Fair value Increased 5.09%

AnalystConsensusTarget has increased future PE multiple from 43.1x to 48.7x.

AnalystConsensusTarget Fair Value

US$87.45

8.8% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

10.63%

Software revenue growth rate

1.20%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.48%

Calculation

US$2.44b

Earnings '28

x

30.76x

PE Ratio '28

=

US$75.01b

Market Cap '28

US$75.01b

Market Cap '28

/

672.57m

No. shares '28

=

US$111.53

Share Price '28

US$111.53 Share Price '28

Discounted to 2025 @ 8.48% p.a.

=

US$87.37

Fair Value '25