F5 (NASDAQ:FFIV) Updates Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.890-3.010 for the period, compared to the consensus earnings per share estimate of 3.090. The company issued revenue guidance of $675.0 million-$695.0 million, compared to the consensus revenue estimate of $694.8 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

Analyst Upgrades and Downgrades

FFIV has been the topic of a number of recent research reports. Barclays cut their price objective on F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a research report on Tuesday. Royal Bank of Canada cut their price objective on F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research report on Tuesday. The Goldman Sachs Group upped their price objective on F5 from $156.00 to $179.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Piper Sandler reaffirmed a neutral rating and set a $167.00 price objective (down previously from $187.00) on shares of F5 in a research report on Tuesday. Finally, KeyCorp upped their price objective on F5 from $186.00 to $204.00 and gave the stock an overweight rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $185.10.

F5 Stock Performance

Shares of FFIV stock traded up $3.62 during mid-day trading on Wednesday, hitting $168.93. 422,913 shares of the stock were exchanged, compared to its average volume of 462,118. The stock’s fifty day simple moving average is $187.30 and its two-hundred day simple moving average is $176.82. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a 12-month low of $129.93 and a 12-month high of $199.49.

F5 (NASDAQ:FFIV) last issued its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $685.47 million. F5 had a return on equity of 21.72% and a net margin of 17.91%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 earnings per share. On average, research analysts expect that F5 will post 9.59 earnings per share for the current fiscal year.

Insider Transactions at F5

In other news, EVP Thomas Dean Fountain sold 851 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $183.06, for a total transaction of $155,784.06. Following the completion of the sale, the executive vice president now owns 15,008 shares in the company, valued at $2,747,364.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Francis J. Pelzer sold 500 shares of the firm’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 completion of the sale, the chief financial officer now owns 32,290 shares in the company, valued at $5,886,789.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $183.06, for a total transaction of $155,784.06. Following the completion of the sale, the executive vice president now owns 15,008 shares of the company’s stock, valued at approximately $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. Company 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.