F5 Networks, Inc. (FFIV) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of F5 Networks, Inc. (NASDAQ:FFIV) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “F5 Networks provides products and services to manage Internet traffic worldwide. The company’s GBB pricing strategy and its BIG-IQ platform remain tailwinds. We believe that the company’s product refreshes will boost revenues, going forward. Moreover, these initiatives are expected to expand its total addressable market and result in client wins.Better execution and focus on enterprise and service providers have placed F5 Networks well in the application delivery controller market. Nevertheless, shares of the company has underperformed the industry over the past one year. A volatile spending atmosphere and competition from peers remain concerns. “
A number of other analysts have also recently issued reports on FFIV. Piper Jaffray Companies cut their price objective on F5 Networks to $121.00 and set a neutral rating for the company in a research report on Thursday, July 27th. BMO Capital Markets reissued an outperform rating and set a $124.00 price target (down from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. CIBC reissued a market perform rating on shares of F5 Networks in a report on Thursday, July 27th. Barclays PLC dropped their price target on F5 Networks from $124.00 to $116.00 and set an overweight rating for the company in a report on Thursday, July 27th. Finally, Cowen and Company reissued an outperform rating and set a $145.00 price target on shares of F5 Networks in a report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $130.81.
F5 Networks (NASDAQ FFIV) traded down 0.72% during mid-day trading on Tuesday, hitting $120.56. 798,811 shares of the stock were exchanged. F5 Networks has a one year low of $114.45 and a one year high of $149.50. The company has a market cap of $7.66 billion, a P/E ratio of 20.02 and a beta of 1.16. The company has a 50-day moving average price of $117.74 and a 200-day moving average price of $129.05.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $525.57 million. During the same period last year, the firm posted $1.81 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts predict that F5 Networks will post $8.17 earnings per share for the current fiscal year.
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In other news, COO Edward Julian Eames sold 4,378 shares of F5 Networks stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $120.63, for a total value of $528,118.14. Following the transaction, the chief operating officer now owns 35,088 shares in the company, valued at approximately $4,232,665.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan Higginson sold 2,540 shares of F5 Networks stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $120.52, for a total value of $306,120.80. Following the completion of the transaction, the director now owns 13,310 shares in the company, valued at approximately $1,604,121.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,312 shares of company stock worth $2,675,607. Corporate insiders own 0.26% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FFIV. BlackRock Inc. increased its stake in shares of F5 Networks by 2,108.1% in the 1st quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock valued at $628,003,000 after purchasing an additional 4,205,384 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of F5 Networks during the 2nd quarter valued at $832,000. Janus Henderson Group PLC boosted its holdings in shares of F5 Networks by 424.5% during the 2nd quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock valued at $95,081,000 after acquiring an additional 605,629 shares in the last quarter. Morgan Stanley boosted its holdings in shares of F5 Networks by 171.1% during the 1st quarter. Morgan Stanley now owns 829,117 shares of the network technology company’s stock valued at $118,207,000 after acquiring an additional 523,250 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of F5 Networks by 3,947.5% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 366,821 shares of the network technology company’s stock valued at $52,298,000 after acquiring an additional 357,758 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.
About F5 Networks
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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