F5 Networks (NASDAQ:FFIV) had its price target reduced by analysts at Nomura to $140.00 in a report issued on Wednesday. The firm presently has a “neutral” rating on the network technology company’s stock. Nomura’s price objective would suggest a potential downside of 11.78% from the company’s current price.
Several other brokerages have also commented on FFIV. Morgan Stanley boosted their price target on F5 Networks from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. ValuEngine lowered F5 Networks from a “buy” rating to a “hold” rating in a research note on Saturday, March 10th. Robert W. Baird reissued a “hold” rating and issued a $145.00 price objective on shares of F5 Networks in a research note on Thursday, January 25th. BidaskClub raised F5 Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Zacks Investment Research raised F5 Networks from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $142.05.
Shares of FFIV stock opened at $158.70 on Wednesday. The firm has a market capitalization of $9,601.35, a P/E ratio of 24.57, a P/E/G ratio of 2.34 and a beta of 1.06. F5 Networks has a one year low of $114.63 and a one year high of $161.58.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, January 24th. The network technology company reported $2.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.21. The business had revenue of $523.20 million for the quarter, compared to analyst estimates of $521.07 million. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. F5 Networks’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. equities analysts forecast that F5 Networks will post 7.32 earnings per share for the current year.
In other news, CFO Andrew Reinland sold 12,963 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $148.01, for a total transaction of $1,918,653.63. Following the completion of the sale, the chief financial officer now owns 515 shares in the company, valued at $76,225.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Mcadam sold 25,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $143.99, for a total value of $3,599,750.00. Following the sale, the director now owns 56,312 shares of the company’s stock, valued at approximately $8,108,364.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,172 shares of company stock valued at $7,274,542. 0.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in FFIV. Wealthstreet Investment Advisors LLC bought a new stake in shares of F5 Networks during the fourth quarter worth $236,000. Lake Street Advisors Group LLC bought a new stake in shares of F5 Networks during the fourth quarter worth $266,000. Sowell Financial Services LLC bought a new stake in shares of F5 Networks during the fourth quarter worth $276,000. Penserra Capital Management LLC raised its position in shares of F5 Networks by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 2,380 shares of the network technology company’s stock worth $312,000 after acquiring an additional 374 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of F5 Networks during the fourth quarter worth $325,000. Institutional investors own 94.30% of the company’s stock.
About F5 Networks
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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