F5 Networks Inc. (FFIV) Given a $134.00 Price Target at Credit Suisse Group AG
“We view this partnership as a solid opportunity for F5 given that Equinix has 23.6% share of the multi-tenant data center market, the largest vendor by far, and that F5 has been fairly sidelined in the cloud opportunity based on our views. We do not integrate the potential revenues from this partnership in our assumptions, but note this does give F5 another avenue of growth, beyond their current enterprise ADC install base. New security products to address the security focused buyer. Along with the already announced single-purpose security appliances in 2016, F5 confirmed and announced that it will have three standalone security products shipping in 2017 (Herculon, DDoS Hybrid Defender, and SSL Orchestrator) that tailor to the IT security buyer.”,” the firm’s analyst wrote.
FFIV has been the topic of several other reports. Zacks Investment Research raised F5 Networks from a hold rating to a buy rating and set a $161.00 target price on the stock in a research report on Tuesday, November 15th. Nomura raised F5 Networks from a reduce rating to a neutral rating and upped their target price for the stock from $115.00 to $130.00 in a research report on Wednesday, November 9th. Drexel Hamilton reaffirmed a buy rating and issued a $160.00 target price (up from $155.00) on shares of F5 Networks in a research report on Friday, October 28th. DA Davidson upped their target price on F5 Networks from $125.34 to $145.00 and gave the stock a buy rating in a research report on Friday, August 12th. Finally, Jefferies Group reaffirmed a hold rating and issued a $110.00 target price (up from $100.00) on shares of F5 Networks in a research report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $121.32.
Shares of F5 Networks (NASDAQ:FFIV) traded down 0.0273% during trading on Friday, reaching $141.9712. 204,511 shares of the company’s stock traded hands. F5 Networks has a 1-year low of $86.03 and a 1-year high of $144.28. The stock has a market capitalization of $9.27 billion, a PE ratio of 26.3887 and a beta of 1.38. The company has a 50 day moving average price of $129.10 and a 200 day moving average price of $120.23.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, October 26th. The network technology company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.17. The firm had revenue of $525.30 million for the quarter, compared to analyst estimates of $520.45 million. F5 Networks had a return on equity of 31.79% and a net margin of 18.34%. F5 Networks’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. On average, equities analysts forecast 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 that occurred on Tuesday, November 8th. The shares were sold at an average price of $137.49, for a total value of $412,470.00. Following the completion of the transaction, the director now directly owns 13,310 shares in the company, valued at approximately $1,829,991.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Reinland sold 2,737 shares of F5 Networks stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $136.98, for a total transaction of $374,914.26. Following the completion of the transaction, the chief financial officer now owns 17,774 shares of the company’s stock, valued at $2,434,682.52. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in F5 Networks by 0.5% in the first quarter. Legal & General Group Plc now owns 294,137 shares of the network technology company’s stock worth $31,135,000 after buying an additional 1,514 shares in the last quarter. LPL Financial LLC raised its position in F5 Networks by 41.1% in the first quarter. LPL Financial LLC now owns 23,263 shares of the network technology company’s stock worth $2,409,000 after buying an additional 6,777 shares in the last quarter. Panagora Asset Management Inc. raised its position in F5 Networks by 75.4% in the first quarter. Panagora Asset Management Inc. now owns 668,952 shares of the network technology company’s stock worth $70,809,000 after buying an additional 287,664 shares in the last quarter. Babson Capital Management LLC raised its position in F5 Networks by 117.0% in the first quarter. Babson Capital Management LLC now owns 78,106 shares of the network technology company’s stock worth $8,268,000 after buying an additional 42,120 shares in the last quarter. Finally, Cypress Capital Group raised its position in F5 Networks by 21.8% in the first quarter. Cypress Capital Group now owns 3,928 shares of the network technology company’s stock worth $416,000 after buying an additional 703 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
About F5 Networks
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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