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Morgan Stanley initiated coverage on shares of F5 Networks (NASDAQ:FFIV) in a research note issued on Wednesday. The firm set an “equal weight” rating on the stock.

F5 Networks (NASDAQ:FFIV) opened at 113.56 on Wednesday. F5 Networks has a 52 week low of $67.53 and a 52 week high of $116.71. The stock’s 50-day moving average is $107.5 and its 200-day moving average is $103.. The company has a market cap of $8.599 billion and a price-to-earnings ratio of 31.39.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.27 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.07 earnings per share. F5 Networks’s revenue was up 19.9% compared to the same quarter last year. On average, analysts predict that F5 Networks will post $5.29 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on FFIV. Analysts at Barclays reiterated an “overweight” rating on shares of F5 Networks in a research note on Thursday, April 24th. They now have a $123.00 price target on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of F5 Networks in a research note on Thursday, April 24th. They now have a $113.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of F5 Networks in a research note on Thursday, April 24th. They now have a $130.00 price target on the stock, down previously from $135.00. Thirteen investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. F5 Networks presently has a consensus rating of “Buy” and a consensus target price of $117.52.

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).

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