Drexel Hamilton Reiterates “Buy” Rating for F5 Networks, Inc. (FFIV)
F5 Networks, Inc. (NASDAQ:FFIV)‘s stock had its “buy” rating reissued by analysts at Drexel Hamilton in a research report issued to clients and investors on Monday. They currently have a $160.00 price objective on the network technology company’s stock. Drexel Hamilton’s price objective would indicate a potential upside of 35.28% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Nomura reduced their target price on F5 Networks from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, October 16th. KeyCorp restated a “hold” rating on shares of F5 Networks in a research report on Wednesday, October 11th. Piper Jaffray Companies restated a “hold” rating and issued a $121.00 target price on shares of F5 Networks in a research report on Thursday, October 12th. Zacks Investment Research downgraded F5 Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $129.00 target price on shares of F5 Networks in a research report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $128.06.
Shares of F5 Networks (FFIV) traded down 1.01% during trading on Monday, reaching $118.27. The company’s stock had a trading volume of 696,981 shares. F5 Networks has a 1-year low of $114.63 and a 1-year high of $149.50. The company has a market capitalization of $7.52 billion, a PE ratio of 19.64 and a beta of 1.14. The stock has a 50 day moving average of $117.81 and a 200-day moving average of $124.88.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.03. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The company had revenue of $517.80 million for the quarter, compared to the consensus estimate of $525.57 million. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts expect that F5 Networks will post $8.17 earnings per share for the current year.
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In related news, CFO Andrew Reinland sold 6,215 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the sale, the chief financial officer now owns 20,601 shares in the company, valued at approximately $2,477,682.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Higginson sold 2,540 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $120.52, for a total value of $306,120.80. Following the completion of the sale, the director now owns 13,310 shares in the company, valued at approximately $1,604,121.20. The disclosure for this sale can be found here. Insiders sold a total of 22,312 shares of company stock worth $2,675,607 in the last quarter. Company insiders own 0.26% of the company’s stock.
Several hedge funds have recently bought and sold shares of FFIV. Koch Industries Inc. purchased a new stake in shares of F5 Networks in the 2nd quarter valued at $832,000. Janus Henderson Group PLC grew its stake in F5 Networks by 424.5% during the 2nd quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock worth $95,081,000 after purchasing an additional 605,629 shares in the last quarter. APG Asset Management N.V. grew its stake in F5 Networks by 65.7% during the 3rd quarter. APG Asset Management N.V. now owns 1,116,349 shares of the network technology company’s stock worth $134,587,000 after purchasing an additional 442,600 shares in the last quarter. FMR LLC grew its stake in F5 Networks by 30.7% during the 2nd quarter. FMR LLC now owns 1,185,212 shares of the network technology company’s stock worth $150,592,000 after purchasing an additional 278,682 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its stake in F5 Networks by 2,261.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 280,713 shares of the network technology company’s stock worth $35,667,000 after purchasing an additional 268,825 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
F5 Networks Company Profile
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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