F5 Networks (FFIV) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of F5 Networks (NASDAQ:FFIV) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat.com reports. BMO Capital Markets currently has $122.00 target price on the network technology company’s stock.

A number of other equities research analysts also recently weighed in on FFIV. Robert W. Baird reaffirmed a hold rating and set a $125.00 price objective on shares of F5 Networks in a research report on Wednesday, October 4th. Zacks Investment Research raised F5 Networks from a sell rating to a hold rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a hold rating and set a $121.00 price objective on shares of F5 Networks in a research report on Thursday, October 12th. Cowen reaffirmed a buy rating and set a $140.00 price objective on shares of F5 Networks in a research report on Friday, October 27th. Finally, KeyCorp reaffirmed a hold rating on shares of F5 Networks in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $127.76.

Shares of F5 Networks (NASDAQ FFIV) traded down $0.94 during trading on Thursday, hitting $136.18. The stock had a trading volume of 848,500 shares, compared to its average volume of 710,475. The stock has a market capitalization of $8,740.00, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.16 and a beta of 1.06. F5 Networks has a 1 year low of $114.63 and a 1 year high of $149.50.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.24. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. The company had revenue of $538.00 million for the quarter, compared to the consensus estimate of $534.71 million. During the same quarter last year, the company earned $2.11 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities analysts forecast that F5 Networks will post 6.7 earnings per share for the current year.

F5 Networks announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other F5 Networks news, CEO Francois Locoh-Donou sold 1,714 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $119.87, for a total value of $205,457.18. Following the completion of the sale, the chief executive officer now owns 2,119 shares of the company’s stock, valued at $254,004.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Reinland sold 2,241 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $121.03, for a total value of $271,228.23. Following the completion of the sale, the chief financial officer now directly owns 15,369 shares of the company’s stock, valued at approximately $1,860,110.07. The disclosure for this sale can be found here. In the last three months, insiders sold 35,712 shares of company stock valued at $4,316,345. Corporate insiders own 0.26% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC raised its stake in shares of F5 Networks by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock worth $102,000 after purchasing an additional 400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of F5 Networks by 23.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after purchasing an additional 161 shares during the last quarter. Zions Bancorporation raised its stake in shares of F5 Networks by 16,733.3% in the third quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock worth $122,000 after purchasing an additional 1,004 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of F5 Networks by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after purchasing an additional 21 shares during the last quarter. Finally, Institute for Wealth Management LLC. purchased a new position in shares of F5 Networks in the second quarter worth about $234,000. 94.66% of the stock is owned by institutional investors and hedge funds.

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About F5 Networks

F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.

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