F5 Networks Inc. (FFIV) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of F5 Networks Inc. (NASDAQ:FFIV) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $161.00 price objective on the network technology company’s stock.
According to Zacks, “F5 Networks Inc. is a leading provider of integrated Internet traffic and content management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. The company’s products monitor and manage local and geographically dispersed servers and intelligently direct traffic to the server best able to handle a user’s request. The products are designed to help prevent system failure and provide timely responses to user requests and data flow. “
Several other research analysts also recently issued reports on FFIV. Nomura downgraded F5 Networks to a sell rating and set a $90.00 price target for the company. in a research note on Tuesday, July 19th. Royal Bank Of Canada lifted their price target on F5 Networks from $110.00 to $115.00 and gave the stock a sector perform rating in a research note on Wednesday, July 20th. RBC Capital Markets reaffirmed a sector perform rating and set a $115.00 price target (up previously from $110.00) on shares of F5 Networks in a research note on Wednesday, July 20th. Wunderlich boosted their target price on shares of F5 Networks from $100.00 to $110.00 and gave the company a buy rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG downgraded shares of F5 Networks from an outperform rating to a neutral rating and set a $125.00 target price for the company. in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. F5 Networks currently has an average rating of Hold and a consensus price target of $120.07.
F5 Networks (NASDAQ:FFIV) traded down 0.74% on Tuesday, hitting $142.38. 444,222 shares of the stock traded hands. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 26.46 and a beta of 1.38. F5 Networks has a 12-month low of $86.03 and a 12-month high of $144.00. The firm’s 50-day moving average price is $127.48 and its 200-day moving average price is $119.62.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings results on Wednesday, October 26th. The network technology company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.17. The business earned $525.30 million during the quarter, compared to the consensus estimate of $520.45 million. F5 Networks had a return on equity of 31.79% and a net margin of 18.34%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. On average, equities research analysts anticipate that F5 Networks will post $8.30 EPS for the current fiscal year.
In related news, Director Alan Higginson sold 3,000 shares of F5 Networks stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $137.49, for a total transaction of $412,470.00. Following the completion of the sale, the director now directly owns 13,310 shares of the company’s stock, valued at $1,829,991.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scot Frazier Rogers sold 1,660 shares of F5 Networks stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $136.98, for a total value of $227,386.80. Following the sale, the executive vice president now directly owns 7,350 shares of the company’s stock, valued at $1,006,803. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Large investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP boosted its stake in shares of F5 Networks by 45.4% in the second quarter. River & Mercantile Asset Management LLP now owns 56,375 shares of the network technology company’s stock worth $6,417,000 after buying an additional 17,600 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of F5 Networks by 0.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 22,297 shares of the network technology company’s stock worth $2,538,000 after buying an additional 209 shares during the period. Atria Investments LLC bought a new stake in shares of F5 Networks during the second quarter worth approximately $454,000. Exxonmobil Investment Management Inc. TX boosted its stake in shares of F5 Networks by 3.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 17,338 shares of the network technology company’s stock worth $1,974,000 after buying an additional 598 shares during the period. Finally, British Columbia Investment Management Corp boosted its stake in shares of F5 Networks by 53.7% in the second quarter. British Columbia Investment Management Corp now owns 39,431 shares of the network technology company’s stock worth $4,489,000 after buying an additional 13,782 shares during the period. 97.50% of the stock is owned by institutional investors and hedge funds.
F5 Networks Company Profile
F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud, data center, and software-defined networking deployments to successfully deliver applications to anyone, anywhere, at any time.
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