Fintel reports that on May 7, 2026, BTIG upgraded their outlook for Fortinet (NasdaqGS:FTNT) from Neutral to Buy.
Analyst Price Forecast Suggests 2.32% Upside
As of April 28, 2026, the average one-year price target for Fortinet is $92.04/share. The forecasts range from a low of $64.64 to a high of $126.00. The average price target represents an increase of 2.32% from its latest reported closing price of $89.95 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fortinet is 8,086MM, an increase of 13.74%. The projected annual non-GAAP EPS is 2.57.
What is the Fund Sentiment?
There are 1,361 funds or institutions reporting positions in Fortinet. This is an decrease of 642 owner(s) or 32.05% in the last quarter. Average portfolio weight of all funds dedicated to FTNT is 0.17%, an increase of 36.26%. Total shares owned by institutions decreased in the last three months by 6.82% to 492,826K shares. 
The put/call ratio of FTNT is 1.46, indicating a bearish outlook.
What are Other Shareholders Doing?
Geode Capital Management holds 16,976K shares representing 2.32% ownership of the company. In its prior filing, the firm reported owning 17,182K shares , representing a decrease of 1.21%. The firm decreased its portfolio allocation in FTNT by 9.73% over the last quarter.
Norges Bank holds 14,519K shares representing 1.98% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Bank of New York Mellon holds 13,333K shares representing 1.82% ownership of the company. In its prior filing, the firm reported owning 14,505K shares , representing a decrease of 8.79%. The firm decreased its portfolio allocation in FTNT by 92.06% over the last quarter.
Invesco holds 10,833K shares representing 1.48% ownership of the company. In its prior filing, the firm reported owning 10,817K shares , representing an increase of 0.15%. The firm decreased its portfolio allocation in FTNT by 88.51% over the last quarter.
Goldman Sachs Group holds 8,122K shares representing 1.11% ownership of the company. In its prior filing, the firm reported owning 5,044K shares , representing an increase of 37.89%. The firm increased its portfolio allocation in FTNT by 53.23% over the last quarter.
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