F5 Networks Stock Rating Reaffirmed by Bank of America (FFIV)
F5 Networks (NASDAQ:FFIV)‘s stock had its “neutral” rating restated by Bank of America in a research note issued on Thursday, Analyst Ratings.Net reports. They currently have a $120.00 target price on the stock, up from their previous target price of $112.00. Bank of America’s target price indicates a potential upside of 13.23% from the stock’s previous close.
The analysts wrote, “F2Q revenue was $5mn or 1% ahead of expectations, EPS was 2c above due to buybacks. F3Q revenue guidance was 1% above consensus and EPS was ~2c ahead. Solid performance is attributed to recent refresh of core ADC products and demand for new security solutions. We increase our proforma FY14/15 EPS estimates from $5.16/5.87 to $5.25/5.97, and raise our PO to $120 accordingly. We maintain our Neutral though as we believe the valuation already reflects ADC growth deceleration and the opportunities in securities.”
FFIV has been the subject of a number of other recent research reports. Analysts at Northland Securities raised their price target on shares of F5 Networks from $113.00 to $117.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at ISI Group raised their price target on shares of F5 Networks from $125.00 to $135.00 in a research note on Thursday. They now have a “strong-buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of F5 Networks from $90.00 to $120.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $115.52.
F5 Networks (NASDAQ:FFIV) traded down 2.04% on Thursday, hitting $105.98. The stock had a trading volume of 2,950,233 shares. F5 Networks has a 52-week low of $67.53 and a 52-week high of $116.71. The stock has a 50-day moving average of $108.7 and a 200-day moving average of $96.88. The company has a market cap of $7.995 billion and a P/E ratio of 31.00.
F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, April 23rd. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.02. The company had revenue of $420.00 million for the quarter, compared to the consensus estimate of $414.26 million. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts expect that F5 Networks will post $5.23 EPS for the current fiscal year.
F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (NASDAQ:FFIV).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.