F5 (NASDAQ:FFIV) Releases Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.890-3.010 for the period, compared to the consensus estimate of 3.090. The company issued revenue guidance of $675.0 million-$695.0 million, compared to the consensus revenue estimate of $694.8 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

F5 Price Performance

Shares of F5 stock traded up $0.19 on Monday, reaching $182.13. 1,030,164 shares of the company were exchanged, compared to its average volume of 443,347. The stock’s 50 day moving average price is $187.66 and its 200-day moving average price is $176.72. F5 has a 1-year low of $129.93 and a 1-year high of $199.49. The company has a market cap of $10.71 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FFIV. Royal Bank of Canada restated a sector perform rating and issued a $204.00 price target on shares of F5 in a research note on Friday, February 9th. Barclays raised their target price on F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. KeyCorp upped their price target on F5 from $186.00 to $204.00 and gave the company an overweight rating in a report on Thursday, January 18th. Needham & Company LLC reissued a buy rating and set a $220.00 price objective on shares of F5 in a report on Tuesday, February 13th. Finally, Piper Sandler upped their target price on shares of F5 from $170.00 to $187.00 and gave the company a neutral rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $192.22.

Insider Activity

In other F5 news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction 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 transaction, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Francis J. Pelzer sold 500 shares of the business’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 value of $89,405.00. Following the transaction, the chief financial officer now owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Francois Locoh-Donou sold 1,450 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $188.85, for a total value of $273,832.50. Following the sale, the chief executive officer now owns 121,801 shares of the company’s stock, valued at approximately $23,002,118.85. The disclosure for this sale can be found here. Insiders have sold 10,201 shares of company stock valued at $1,908,065 in the last ninety days. 0.58% of the stock is currently owned by company 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.