F5 Networks, Inc. Expected to Earn Q3 2018 Earnings of $1.79 Per Share (FFIV)
F5 Networks, Inc. (NASDAQ:FFIV) – Equities researchers at KeyCorp increased their Q3 2018 earnings per share (EPS) estimates for F5 Networks in a research note issued to investors on Thursday. KeyCorp analyst A. Kurtz now forecasts that the network technology company will earn $1.79 per share for the quarter, up from their previous forecast of $1.78. KeyCorp also issued estimates for F5 Networks’ Q4 2018 earnings at $1.99 EPS and FY2018 earnings at $7.28 EPS.
A number of other analysts also recently issued reports on FFIV. BidaskClub downgraded F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Piper Jaffray Companies reiterated a “neutral” rating and set a $146.00 price target on shares of F5 Networks in a research report on Wednesday, January 10th. ValuEngine downgraded F5 Networks from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded F5 Networks from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a research report on Tuesday. Finally, Robert W. Baird reiterated a “hold” rating and set a $145.00 price target on shares of F5 Networks in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. F5 Networks presently has an average rating of “Hold” and an average target price of $140.55.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, January 24th. The network technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.05 by $0.21. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. The business had revenue of $523.20 million during the quarter, compared to the consensus estimate of $521.07 million. During the same quarter last year, the company earned $1.98 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year.
In related news, CFO Andrew Reinland sold 12,963 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $148.01, for a total value of $1,918,653.63. Following the completion of the sale, the chief financial officer now owns 515 shares in the company, valued at approximately $76,225.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John D. Dilullo sold 3,801 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $142.69, for a total value of $542,364.69. Following the completion of the sale, the executive vice president now owns 7,522 shares of the company’s stock, valued at approximately $1,073,314.18. The disclosure for this sale can be found here. Insiders sold a total of 50,172 shares of company stock valued at $7,274,542 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Zions Bancorporation increased its stake in F5 Networks by 16,733.3% in the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock worth $122,000 after purchasing an additional 1,004 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in F5 Networks by 58.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,360 shares of the network technology company’s stock worth $164,000 after purchasing an additional 500 shares during the period. Wealthstreet Investment Advisors LLC purchased a new position in F5 Networks in the 4th quarter worth approximately $236,000. Cadence Capital Management LLC purchased a new position in F5 Networks in the 3rd quarter worth approximately $241,000. Finally, Lake Street Advisors Group LLC purchased a new position in F5 Networks in the 4th quarter worth approximately $266,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
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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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