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F5 Networks (NASDAQ:FFIV) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Monday, reports. The firm currently has a $93.69 price target on the stock, up from their previous price target of $40.00. William Blair’s target price indicates a potential upside of 1.83% from the company’s current price.

In other F5 Networks news, EVP Thomas David Feringa sold 1,580 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $90.00, for a total transaction of $142,200.00. Following the sale, the executive vice president now directly owns 1,900 shares in the company, valued at approximately $171,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of other firms have also recently commented on FFIV. Analysts at Citigroup Inc. initiated coverage on shares of F5 Networks in a research note to investors on Tuesday, December 10th. They set a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of F5 Networks from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, November 22nd. They now have a $83.90 price target on the stock. Finally, analysts at Wedbush raised their price target on shares of F5 Networks from $92.00 to $94.00 in a research note to investors on Thursday, October 24th. They now have an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.68.

F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, October 23rd. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters 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.

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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