F5 (NASDAQ:FFIV) Releases FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 12.520-12.750 for the period, compared to the consensus EPS estimate of 12.060. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. F5 also updated its FY24 guidance to $12.52-$12.75 EPS.

Analyst Upgrades and Downgrades

A number of research firms have commented on FFIV. KeyCorp lifted their target price on shares of F5 from $186.00 to $204.00 and gave the stock an overweight rating in a report on Thursday, January 18th. Barclays upped their price objective on shares of F5 from $163.00 to $206.00 and gave the company an equal weight rating in a research report on Tuesday, January 30th. The Goldman Sachs Group lifted their target price on F5 from $156.00 to $179.00 and gave the stock a neutral rating in a report on Tuesday, January 30th. Needham & Company LLC restated a buy rating and issued a $220.00 price target on shares of F5 in a report on Tuesday, February 13th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $204.00 price objective on shares of F5 in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $192.22.

F5 Stock Performance

NASDAQ FFIV traded up $0.19 during trading on Monday, hitting $182.13. The stock had a trading volume of 1,030,164 shares, compared to its average volume of 443,347. The company has a market capitalization of $10.71 billion, a PE ratio of 23.68, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a 12 month low of $129.93 and a 12 month high of $199.49. The company’s 50-day moving average price is $187.66 and its two-hundred day moving average price is $176.72.

F5 (NASDAQ:FFIV) last announced its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. The business had revenue of $681.00 million for the quarter, compared to analyst estimates of $685.47 million. F5 had a net margin of 16.43% and a return on equity of 20.81%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 earnings per share. As a group, equities analysts anticipate that F5 will post 9.59 earnings per share for the current fiscal year.

Insider Activity at F5

In other news, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total transaction of $89,405.00. Following the sale, the chief financial officer now owns 31,290 shares in the company, valued at approximately $5,594,964.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other F5 news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total transaction of $155,784.06. Following the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the sale, the chief financial officer now owns 31,290 shares in the company, valued at approximately $5,594,964.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,201 shares of company stock valued at $1,908,065. 0.58% of the stock is owned by insiders.

About F5

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.