F5 Networks, Inc. (NASDAQ:FFIV) Stock Rating Reaffirmed by Drexel Hamilton
F5 Networks, Inc. (NASDAQ:FFIV)‘s stock had its “buy” rating reaffirmed by equities research analysts at Drexel Hamilton in a research report issued on Friday. They presently have a $160.00 price objective on the network technology company’s stock. Drexel Hamilton’s price objective would indicate a potential upside of 26.08% from the company’s current price.
The analysts wrote, “We believe F5 will exceed our 3Q:FY17 revenue estimate of $521.5 million and match the consensus (Street is at $525.6 million), while beating our EPS projection of $2.01 and meeting the Street’s $2.03 projection. Our 3Q:FY17 sales forecast represents less than 1% QoQ growth and well below the five- year average of up 4%, representing the weakest June quarter since 3Q:FY02.””
FFIV has been the topic of a number of other research reports. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price objective on shares of F5 Networks in a report on Friday, June 16th. Piper Jaffray Companies lowered shares of F5 Networks from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $144.00 to $136.00 in a report on Friday, July 14th. Needham & Company LLC reissued a “hold” rating on shares of F5 Networks in a report on Thursday, March 30th. Oppenheimer Holdings, Inc. set a $157.00 price objective on shares of F5 Networks and gave the stock a “buy” rating in a report on Saturday, April 8th. Finally, Barclays PLC reissued a “sell” rating and set a $124.00 price objective on shares of F5 Networks in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $136.56.
F5 Networks (NASDAQ FFIV) traded down 0.27% on Friday, reaching $126.90. 479,580 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $128.54 and a 200-day moving average of $135.91. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 21.66 and a beta of 1.17. F5 Networks has a 12 month low of $114.45 and a 12 month high of $149.50.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, April 26th. The network technology company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by $0.06. F5 Networks had a return on equity of 33.53% and a net margin of 18.88%. The company had revenue of $518.20 million for the quarter, compared to the consensus estimate of $523.12 million. During the same period in the prior year, the company earned $1.68 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that F5 Networks will post $8.19 earnings per share for the current year.
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In related news, Director John Mcadam sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $130.17, for a total value of $1,301,700.00. Following the sale, the director now directly owns 66,953 shares in the company, valued at approximately $8,715,272.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Reinland sold 6,235 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $127.40, for a total transaction of $794,339.00. Following the completion of the sale, the chief financial officer now owns 18,602 shares in the company, valued at $2,369,894.80. The disclosure for this sale can be found here. Insiders sold a total of 25,146 shares of company stock worth $3,234,190 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. APG Asset Management N.V. increased its stake in shares of F5 Networks by 4.7% in the second quarter. APG Asset Management N.V. now owns 673,749 shares of the network technology company’s stock valued at $85,607,000 after buying an additional 30,090 shares during the period. BTIM Corp. increased its stake in shares of F5 Networks by 3.4% in the second quarter. BTIM Corp. now owns 85,968 shares of the network technology company’s stock valued at $10,923,000 after buying an additional 2,858 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of F5 Networks during the second quarter valued at approximately $963,000. Hendershot Investments Inc. increased its stake in shares of F5 Networks by 49.9% in the second quarter. Hendershot Investments Inc. now owns 10,199 shares of the network technology company’s stock valued at $1,296,000 after buying an additional 3,395 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of F5 Networks by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 49,329 shares of the network technology company’s stock valued at $6,271,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.
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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