Zacks Investment Research upgraded shares of F5 Networks (NASDAQ:FFIV) from a hold rating to a buy rating in a research report report published on Friday morning. Zacks Investment Research currently has $185.00 target price on the network technology company’s stock.
According to Zacks, “F5 Networks is benefiting from increasing demand for cloud and security offerings. Deployment of solutions by customers on cloud and on-premise environment is expected to drive revenues going ahead. Partnership with major public cloud providers like AWS and Microsoft Azure is a tailwind. The company’s BIG-IP Cloud Edition is also expected to be a meaningful driver of software growth. Moreover, these initiatives are expected to expand the company’s total addressable market and result in client wins. The stock has outperformed the industry in the past year. Estimates have been stable ahead of the company's Q1 earnings release. The company has positive record of earnings surprises in recent quarters. Nevertheless, a volatile spending atmosphere and competition from peers remain concerns. Moreover, a substantial portion of sales is derived from outside the U.S., which exposes the company to exchange rate fluctuations.”
FFIV has been the subject of several other reports. Credit Suisse Group lifted their target price on shares of F5 Networks from $216.00 to $218.00 and gave the company an outperform rating in a report on Thursday, October 25th. BidaskClub upgraded shares of F5 Networks from a hold rating to a buy rating in a report on Thursday, December 20th. Piper Jaffray Companies lowered shares of F5 Networks from a neutral rating to an underweight rating and boosted their price objective for the stock from $168.00 to $180.00 in a report on Monday, October 1st. MKM Partners boosted their price objective on shares of F5 Networks to $190.00 and gave the stock a neutral rating in a report on Friday, October 26th. Finally, BMO Capital Markets boosted their price objective on shares of F5 Networks from $188.00 to $195.00 and gave the stock an outperform rating in a report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $174.18.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, October 24th. The network technology company reported $2.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.27. F5 Networks had a net margin of 20.99% and a return on equity of 40.04%. The firm had revenue of $562.71 million during the quarter, compared to analyst estimates of $560.72 million. As a group, sell-side analysts predict that F5 Networks will post 8.55 EPS for the current fiscal year.
In other F5 Networks news, Director Deborah L. Bevier sold 2,540 shares of F5 Networks stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $181.25, for a total value of $460,375.00. Following the completion of the sale, the director now owns 7,152 shares of the company’s stock, valued at approximately $1,296,300. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sandra E. Bergeron sold 8,900 shares of F5 Networks stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $169.54, for a total transaction of $1,508,906.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $339,080. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,012 shares of company stock valued at $8,473,168. 0.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Highwater Wealth Management LLC bought a new stake in F5 Networks in the 4th quarter worth approximately $54,000. Stone Ridge Asset Management LLC grew its position in shares of F5 Networks by 3.0% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 10,255 shares of the network technology company’s stock valued at $2,045,000 after acquiring an additional 300 shares during the period. Moody Aldrich Partners LLC bought a new stake in shares of F5 Networks during the 2nd quarter valued at $54,839,000. Cascade Investment Advisors Inc. grew its position in shares of F5 Networks by 5.5% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 6,270 shares of the network technology company’s stock valued at $1,250,000 after acquiring an additional 325 shares during the period. Finally, First Hawaiian Bank grew its position in shares of F5 Networks by 4.2% during the 4th quarter. First Hawaiian Bank now owns 8,239 shares of the network technology company’s stock valued at $1,335,000 after acquiring an additional 329 shares during the period. 97.41% of the stock is owned by institutional investors and hedge funds.
F5 Networks Company Profile
F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.
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