F5 (NASDAQ:FFIV) Issues 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 guidance of 2.890-3.010 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FFIV. Evercore ISI reduced their price target on F5 from $200.00 to $180.00 and set an in-line rating for the company in a research note on Tuesday. The Goldman Sachs Group raised their price target on shares of F5 from $156.00 to $179.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Barclays lowered their target price on shares of F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a report on Tuesday. Royal Bank of Canada lowered their price objective on F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reiterated a buy rating and set a $220.00 target price on shares of F5 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, F5 has a consensus rating of Hold and an average target price of $185.10.

F5 Stock Down 8.0 %

Shares of FFIV stock traded down $14.60 on Tuesday, reaching $167.53. The company had a trading volume of 826,921 shares, compared to its average volume of 447,819. The business’s 50-day moving average is $187.66 and its 200 day moving average is $176.72. F5 has a one year low of $129.93 and a one year high of $199.49. The stock has a market capitalization of $9.85 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share for the quarter, beating 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 firm had revenue of $681.00 million for the quarter, compared to analyst estimates of $685.47 million. During the same quarter last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that F5 will post 9.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total transaction of $91,155.00. Following the sale, the chief financial officer now directly owns 32,290 shares in the company, valued at approximately $5,886,789.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total value of $91,155.00. Following the transaction, the chief financial officer now owns 32,290 shares in the company, valued at approximately $5,886,789.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francois Locoh-Donou sold 1,450 shares of F5 stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $188.85, for a total transaction of $273,832.50. Following the transaction, the chief executive officer now directly 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. Over the last three months, insiders have sold 10,201 shares of company stock valued at $1,908,065. 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.