Needham & Company LLC Reaffirms “Hold” Rating for F5 Networks, Inc. (FFIV)
F5 Networks, Inc. (NASDAQ:FFIV)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Tuesday.
A number of other equities research analysts have also commented on FFIV. Royal Bank Of Canada reiterated a “hold” rating and issued a $132.00 price target on shares of F5 Networks in a research report on Monday, May 29th. Cowen and Company reiterated an “outperform” rating and issued a $145.00 price target on shares of F5 Networks in a research report on Monday, June 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $130.00 price target on shares of F5 Networks in a research report on Friday, June 16th. Piper Jaffray Companies lowered F5 Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $130.81.
F5 Networks (FFIV) traded down 1.01% during trading on Tuesday, reaching $116.39. The company’s stock had a trading volume of 155,468 shares. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 19.33 and a beta of 1.16. F5 Networks has a 52-week low of $114.45 and a 52-week high of $149.50. The firm has a 50 day moving average price of $118.71 and a 200-day moving average price of $130.02.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting analysts’ consensus estimates of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $525.57 million. During the same quarter in the previous year, the company posted $1.81 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts expect that F5 Networks will post $8.17 earnings per share for the current year.
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In other news, CEO Francois Locoh-Donou sold 2,029 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $119.61, for a total value of $242,688.69. Following the completion of the sale, the chief executive officer now directly owns 2,636 shares of the company’s stock, valued at $315,291.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ryan C. Kearny sold 836 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $120.59, for a total value of $100,813.24. Following the completion of the sale, the executive vice president now directly owns 2,148 shares of the company’s stock, valued at $259,027.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,312 shares of company stock valued at $2,675,607. Company insiders own 0.26% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of F5 Networks by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock worth $102,000 after purchasing an additional 400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of F5 Networks by 23.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after purchasing an additional 161 shares during the last quarter. IFP Advisors Inc raised its stake in shares of F5 Networks by 65.6% in the second quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after purchasing an additional 380 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of F5 Networks in the first quarter worth approximately $153,000. Finally, Van ECK Associates Corp raised its stake in shares of F5 Networks by 6.0% in the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after purchasing an additional 65 shares during the last quarter. 96.45% of the stock is owned by hedge funds and other institutional investors.
F5 Networks Company Profile
F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.
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