F5 (NASDAQ:FFIV) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

F5 (NASDAQ:FFIV) posted its quarterly earnings results on Monday. The network technology company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03, RTT News reports. The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. F5 had a net margin of 16.43% and a return on equity of 20.81%. F5’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 earnings per share. F5 updated its Q3 guidance to $2.89-$3.01 EPS and its FY24 guidance to $12.52-$12.75 EPS.

F5 Stock Up 0.1 %

Shares of FFIV traded up $0.19 during trading on Monday, reaching $182.13. The company’s stock had a trading volume of 956,216 shares, compared to its average volume of 442,671. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.68 and a beta of 1.11. The company has a fifty day moving average of $187.66 and a two-hundred day moving average of $176.53. F5 has a twelve month low of $129.93 and a twelve month high of $199.49.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FFIV shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $204.00 price objective on shares of F5 in a research note on Friday, February 9th. The Goldman Sachs Group increased their price objective on shares of F5 from $156.00 to $179.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Barclays raised their target price on shares of F5 from $163.00 to $206.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. upped their price target on shares of F5 from $197.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of F5 in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $192.22.

Insider Buying and Selling

In other news, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total value of $91,155.00. Following the sale, the chief financial officer now owns 32,290 shares in the company, valued at approximately $5,886,789.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $182.31, for a total value of $91,155.00. Following the completion of the sale, the chief financial officer now directly owns 32,290 shares in the company, valued at approximately $5,886,789.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the transaction, the executive vice president now owns 15,008 shares in the company, valued at $2,747,364.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,201 shares of company stock worth $1,908,065. Insiders own 0.58% of the company’s stock.

About F5

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.