Fortinet stock: Wells Fargo lifts target for Fortinet stock to USD 160.00

Published on 10/16/2026 at 17:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On October 16, 2026, Nasdaq price was 12.49 percent below USD 197.13 high. Fortinet stock costs EUR 153.85 on October 16, 2026.

Analyst and market dates

Wells Fargo raised its Fortinet target from USD 135.00 to USD 160.00 on October 15, 2026.
Fortinet's Nasdaq price stood 12.49 percent below its USD 197.13 52-week high on October 16, 2026.
Fortinet stock costs EUR 153.85 at Lang & Schwarz on October 16, 2026 at 5:01 p.m. CEST.
Fortinet is scheduled to announce third-quarter results on October 28, 2026.

Extreme Makroaufnahme einer grünen Leiterplatte mit goldenen Kupferleiterbahnen und Sicherheitschip — Fortinet Inc. Makro Aufnahme einer Leiter Platte mit Sicherheits Chips und Kupfer Leiterbahnen US34959E1091, Illustration mit AI erstellt.

Wells Fargo raised its Fortinet target from USD 135.00 to USD 160.00 on October 15, 2026, while keeping an Underweight rating. The target is 7.25 percent below Fortinet's USD 172.50 Nasdaq price at 11:03 a.m. ET on October 16, 2026. Fortinet stock was trading at EUR 153.85 at Lang & Schwarz on October 16, 2026 at 5:01 p.m. CEST.

Results date sets the next test

Fortinet is scheduled to announce its third-quarter 2026 financial results on October 28, 2026. The company's investor-relations release dated October 2, 2026, says the earnings call will begin at 4:30 p.m. ET and identifies Fortinet as Nasdaq-listed under ticker FTNT.

Stock stays below its yearly high

Fortinet's USD 172.50 Nasdaq price was 12.49 percent below the USD 197.13 52-week high and 134.56 percent above the USD 73.55 low on October 16, 2026. The euro quote stood at EUR 153.85 at Lang & Schwarz at 5:01 p.m. CEST. The spread between the analyst target and the Nasdaq price is more important than the euro conversion because the target is stated in USD.

Valuation remains measurable

Fortinet had a market capitalization of USD 126.6 billion and a price-to-earnings ratio of 60.94 on October 16, 2026. The company reported 2026 second-quarter revenue of USD 2.05 billion and net income attributable to common shareholders of USD 606.3 million for the quarter ended June 30, 2026. Those figures provide a current operating reference ahead of the October results date.

Comparison with peers

Fortinet Inc. (Nasdaq, USD): P/E 60.94, market capitalization USD 126.6 billion

Palo Alto Networks (Nasdaq, USD): minus 5.25 percent, P/E 797.30, market capitalization USD 287.0 billion

CrowdStrike Holdings (Nasdaq, USD): minus 5.64 percent, P/E 6,580.34, market capitalization USD 236.3 billion

Price and investor calendar

Fortinet's valuation sits between a large market capitalization and a high earnings multiple, while Wells Fargo's USD 160.00 target remains below the Nasdaq quotation. The next scheduled company event is the third-quarter results announcement on October 28, 2026.

Fortinet was trading at EUR 153.85 at Lang & Schwarz on October 16, 2026 at 5:01 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Fortinet stock.