F5 Networks Downgraded to “Neutral” at Citigroup Inc. (FFIV)
F5 Networks (NASDAQ:FFIV) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $122.00 target price on the stock. Citigroup Inc.’s price target points to a potential upside of 25.15% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of F5 Networks (NASDAQ:FFIV) opened at 105.66 on Thursday. F5 Networks has a one year low of $67.53 and a one year high of $107.99. The stock has a 50-day moving average of $88.58 and a 200-day moving average of $86.30. The company has a market cap of $8.200 billion and a P/E ratio of 27.85. F5 Networks also was the recipient of unusually large options trading on Wednesday. Traders acquired 18,453 put options on the stock. This represents an increase of approximately 728% compared to the typical volume of 2,229 put options.
F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $406.50 million for the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts expect that F5 Networks will post $5.10 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FFIV. Analysts at RBC Capital raised their price target on shares of F5 Networks from $100.00 to $113.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of F5 Networks from $98.00 to $105.00 in a research note to investors on Thursday. Finally, analysts at Wunderlich raised their price target on shares of F5 Networks from $90.00 to $100.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $109.27.
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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