F5 Networks Price Target Raised to $103.00 at Cowen and Company (FFIV)
Equities researchers at Cowen and Company hoisted their target price on shares of F5 Networks (NASDAQ:FFIV) from $102.00 to $103.00 in a research report issued on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective would indicate a potential upside of 24.53% from the stock’s previous close.
F5 Networks (NASDAQ:FFIV) traded down 2.87% during mid-day trading on Thursday, hitting $82.709. The stock had a trading volume of 3,231,447 shares. F5 Networks has a 1-year low of $67.53 and a 1-year high of $111.58. The stock has a 50-day moving average of $87. and a 200-day moving average of $82.03. The company has a market cap of $6.476 billion and a P/E ratio of 25.12. F5 Networks also saw unusually large options trading on Wednesday. Stock traders acquired 26,213 call options on the stock. This is an increase of approximately 496% compared to the average daily volume of 4,395 call options.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The company had revenue of $395.30 million for the quarter, compared to the consensus estimate of $384.64 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that F5 Networks will post $5.09 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FFIV. Analysts at BMO Capital Markets raised their price target on shares of F5 Networks from $100.00 to $105.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of F5 Networks from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday. They now have a $84.30 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of F5 Networks in a research note to investors on Thursday. They now have a $100.00 price target on the stock, up previously from $97.00. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $106.71.
F5 Networks, Inc is a provider of Application Delivery Networking (NASDAQ:FFIV) technology that secures and optimizes the delivery of network-based applications and the security, performance and availability of servers, and other network resources.
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