FatPipe

FATN · NASDAQ

$5.34−$0.01 (−0.19%)TodayMarket closed · Oct 20, 5:16 PM ET

Prev close $5.35

FATN analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $10.20 (+91.0% upside)

Low: $8.08
Now: $5.34
High: $12.60

Upgrades and downgrades

The latest rating actions, newest first

FATN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Roth Capital	Sep 10, 2026	Initiates	Buy	$8.00	37%
Northland Capital Markets	May 11, 2026	Initiates	Outperform	$12.00	45%
D. Boral Capital	May 1, 2026	Maintains	Buy	$8.00	29%
D. Boral Capital	Mar 23, 2026	Initiates	Buy	$8.00	29%

The case for and against

Updated Sep 12, 2026

Bull case

Fatpipe is a leading provider of integrated software solutions for SMBs and is partnered with AT&T for market penetration. The company's focus on software development, high gross margins, and recurring contract model position it for continued revenue growth. However, reliance on partnerships and the company's leverage may pose risks. With a strong core offering and a compact solution for smaller businesses, Fatpipe is well-positioned to meet the growing demand for secure and reliable networking solutions.

Bear case

Fatpipe is aggressively expanding its sales team, but its upfront revenue recognition model and debt obligations leave downside risk if not able to ramp growth as quickly as anticipated; a high concentration of revenues from a key distribution partner also poses risks if the partner relationship is compromised, and the company has limited operating history as a public company, limited competitive advantages and a small scale of operations. With significant competition and potential dilution from financing needs, success in growth would provide potential opportunities for multiple expansions through the transformation to SD-WAN driven networking demand, investment in sales and global market penetration, and ongoing product innovation to enhance enterprise customer value.

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