$525.22 Million in Sales Expected for F5 Networks, Inc. (FFIV) This Quarter
Wall Street brokerages predict that F5 Networks, Inc. (NASDAQ:FFIV) will announce sales of $525.22 million for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for F5 Networks’ earnings, with estimates ranging from $523.17 million to $527.2 million. F5 Networks posted sales of $496.52 million in the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that F5 Networks will report full year sales of $525.22 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.21 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.22 billion per share, with estimates ranging from $2.14 billion to $2.3 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow F5 Networks.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, April 26th. The network technology company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by $0.06. The company had revenue of $518.20 million during the quarter, compared to the consensus estimate of $523.12 million. F5 Networks had a net margin of 18.32% and a return on equity of 32.62%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share.
Several equities research analysts have weighed in on the stock. Deutsche Bank AG cut shares of F5 Networks from a “hold” rating to a “sell” rating and lowered their price objective for the company from $120.00 to $100.00 in a research report on Wednesday, March 29th. Needham & Company LLC restated an “in-line” rating on shares of F5 Networks in a research report on Thursday, January 26th. Robert W. Baird restated an “in-line” rating on shares of F5 Networks in a research report on Thursday, January 26th. Barclays PLC raised their price objective on shares of F5 Networks from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, January 26th. Finally, Royal Bank of Canada lowered their price objective on shares of F5 Networks from $137.00 to $132.00 and set a “sector perform” rating for the company in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $135.44.
In other news, Director John Mcadam sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $130.17, for a total transaction of $1,301,700.00. Following the transaction, the director now directly owns 66,953 shares of the company’s stock, valued at $8,715,272.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Reinland sold 6,235 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $127.40, for a total value of $794,339.00. Following the transaction, the chief financial officer now directly owns 18,602 shares in the company, valued at $2,369,894.80. The disclosure for this sale can be found here. Insiders have sold 25,146 shares of company stock worth $3,234,190 over the last three months. Insiders own 0.26% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its position in F5 Networks by 16.5% in the third quarter. Penserra Capital Management LLC now owns 104,062 shares of the network technology company’s stock valued at $12,969,000 after buying an additional 14,739 shares during the period. GAM Holding AG boosted its position in F5 Networks by 28.2% in the third quarter. GAM Holding AG now owns 94,384 shares of the network technology company’s stock valued at $11,765,000 after buying an additional 20,752 shares during the period. Principal Financial Group Inc. boosted its position in F5 Networks by 19.0% in the third quarter. Principal Financial Group Inc. now owns 130,520 shares of the network technology company’s stock valued at $16,268,000 after buying an additional 20,872 shares during the period. Morgan Stanley boosted its position in F5 Networks by 32.2% in the third quarter. Morgan Stanley now owns 205,681 shares of the network technology company’s stock valued at $25,636,000 after buying an additional 50,140 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in F5 Networks by 56.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,067 shares of the network technology company’s stock valued at $1,629,000 after buying an additional 4,738 shares during the period. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
F5 Networks (NASDAQ:FFIV) traded down 0.404% on Friday, hitting $127.065. 287,945 shares of the stock traded hands. The stock has a market cap of $8.22 billion, a P/E ratio of 21.687 and a beta of 1.33. The stock has a 50-day moving average price of $131.70 and a 200 day moving average price of $139.82. F5 Networks has a 12-month low of $107.19 and a 12-month high of $149.50.
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About F5 Networks
F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.
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