F5 Networks Rating Increased to Buy at Janney Montgomery Scott (FFIV)
F5 Networks (NASDAQ:FFIV) was upgraded by research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $122.00 price objective on the stock, up from their previous price objective of $83.00. Janney Montgomery Scott’s price target would indicate a potential upside of 19.04% from the company’s current price.
F5 Networks (NASDAQ:FFIV) traded up 5.13% during mid-day trading on Thursday, hitting $102.48. 7,166,961 shares of the company’s stock traded hands. F5 Networks has a one year low of $67.53 and a one year high of $107.99. The stock’s 50-day moving average is $88.58 and its 200-day moving average is $86.30. The company has a market cap of $7.953 billion and a P/E ratio of 27.85. F5 Networks also saw some unusual options trading activity on Wednesday. Investors purchased 18,453 put options on the stock. This is an increase of approximately 728% compared to the typical volume of 2,229 put options.
F5 Networks (NASDAQ:FFIV) last released its earnings data on Wednesday, January 22nd. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue 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 firms have also recently commented on FFIV. Analysts at William Blair upgraded shares of F5 Networks from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, January 13th. They now have a $93.69 price target on the stock, up previously from $40.00. Separately, 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. Finally, 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. Fifteen investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. F5 Networks presently has a consensus rating of “Buy” and a consensus target price of $112.34.
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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