Merrill Lynch Downgrades F5 Networks to Neutral (FFIV)
F5 Networks (NASDAQ:FFIV) was downgraded by equities research analysts at Merrill Lynch from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, AnalystRatings.NET reports.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott raised their price target on shares of F5 Networks from $80.00 to $83.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of F5 Networks from $102.00 to $103.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $106.71.
F5 Networks (NASDAQ:FFIV) traded down 2.87% during mid-day trading on Thursday, hitting $82.709. 3,231,447 shares of the company’s stock traded hands. 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 price-to-earnings ratio of 25.12. F5 Networks also was the target of unusually large options trading activity on Wednesday. Investors purchased 26,213 call options on the stock. This represents an increase of approximately 496% compared to the typical 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 for the quarter, beating the analysts’ 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 last year, the company posted $1.12 earnings per share. F5 Networks’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that F5 Networks will post $5.09 earnings per share for the current fiscal year.
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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