F5 (NASDAQ:FFIV) Updates Q3 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.89-$3.01 for the period, compared to the consensus earnings per share estimate of $3.09. The company issued revenue guidance of $675-$695 million, compared to the consensus revenue estimate of $695.85 million. F5 also updated its FY24 guidance to $12.52-$12.75 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FFIV shares. KeyCorp upped their price target on F5 from $186.00 to $204.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Needham & Company LLC reissued a buy rating and set a $220.00 price target on shares of F5 in a research report on Tuesday, February 13th. Barclays upped their price target on F5 from $163.00 to $206.00 and gave the company an equal weight rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. upped their price target on F5 from $197.00 to $205.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Finally, Piper Sandler upped their price target on F5 from $170.00 to $187.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $192.22.

F5 Stock Performance

Shares of NASDAQ:FFIV traded up $0.19 on Monday, hitting $182.13. The company’s stock had a trading volume of 962,925 shares, compared to its average volume of 441,814. F5 has a 12 month low of $129.93 and a 12 month high of $199.49. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11. The stock’s 50-day moving average is $187.66 and its two-hundred day moving average is $176.53.

F5 (NASDAQ:FFIV) last released its quarterly earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. F5 had a return on equity of 20.81% and a net margin of 16.43%. The company had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $685.47 million. During the same quarter in the prior year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts expect that F5 will post 9.59 earnings per share for the current fiscal year.

Insider Activity at F5

In related news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $178.81, for a total transaction of $89,405.00. Following the completion of the transaction, the chief financial officer now owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $178.81, for a total transaction of $89,405.00. Following the completion of the transaction, the chief financial officer now owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Francois Locoh-Donou sold 6,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $188.02, for a total value of $1,203,328.00. Following the transaction, the chief executive officer now directly owns 123,251 shares of the company’s stock, valued at approximately $23,173,653.02. The disclosure for this sale can be found here. Insiders sold 10,201 shares of company stock valued at $1,908,065 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

F5 Company Profile

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.