Fintel reports that on November 6, 2025, Baird maintained coverage of Fortinet (NasdaqGS:FTNT) with a Neutral recommendation.
Analyst Price Forecast Suggests 13.59% Upside
As of October 30, 2025, the average one-year price target for Fortinet is $91.48/share. The forecasts range from a low of $67.67 to a high of $126.00. The average price target represents an increase of 13.59% from its latest reported closing price of $80.54 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fortinet is 7,497MM, an increase of 14.38%. The projected annual non-GAAP EPS is 2.10.
What is the Fund Sentiment?
There are 2,296 funds or institutions reporting positions in Fortinet. This is an decrease of 49 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to FTNT is 0.32%, an increase of 8.94%. Total shares owned by institutions increased in the last three months by 1.12% to 567,454K shares. 
The put/call ratio of FTNT is 1.02, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,913K shares representing 2.73% ownership of the company. In its prior filing, the firm reported owning 20,637K shares , representing an increase of 1.32%. The firm decreased its portfolio allocation in FTNT by 0.71% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 18,034K shares representing 2.35% ownership of the company. In its prior filing, the firm reported owning 17,677K shares , representing an increase of 1.98%. The firm decreased its portfolio allocation in FTNT by 0.46% over the last quarter.
Geode Capital Management holds 16,917K shares representing 2.21% ownership of the company. In its prior filing, the firm reported owning 16,088K shares , representing an increase of 4.90%. The firm increased its portfolio allocation in FTNT by 2.86% over the last quarter.
Invesco Qqq Trust, Series 1 holds 15,793K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 15,837K shares , representing a decrease of 0.28%. The firm decreased its portfolio allocation in FTNT by 7.70% over the last quarter.
Norges Bank holds 15,521K shares representing 2.03% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
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This story originally appeared on Fintel.
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