F5 Networks, Inc. (FFIV) to Post Q3 2019 Earnings of $1.71 Per Share, KeyCorp Forecasts
F5 Networks, Inc. (NASDAQ:FFIV) – Analysts at KeyCorp issued their Q3 2019 EPS estimates for F5 Networks in a research note issued on Wednesday. KeyCorp analyst A. Kurtz expects that the network technology company will post earnings per share of $1.71 for the quarter. KeyCorp has a “Hold” rating on the stock.
Several other analysts also recently commented on the stock. Cowen and Company reissued a “buy” rating and set a $140.00 price objective on shares of F5 Networks in a research report on Friday. Nomura cut their price objective on shares of F5 Networks from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays PLC cut their price objective on shares of F5 Networks from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets cut their price objective on shares of F5 Networks from $124.00 to $122.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Robert W. Baird reissued a “hold” rating and set a $120.00 price objective on shares of F5 Networks in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the stock. F5 Networks has an average rating of “Hold” and an average target price of $126.76.
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F5 Networks (NASDAQ:FFIV) traded down 1.17% on Monday, hitting $119.76. 302,786 shares of the company were exchanged. F5 Networks has a 52 week low of $114.63 and a 52 week high of $149.50. The stock has a market capitalization of $7.61 billion, a P/E ratio of 19.89 and a beta of 1.14. The company has a 50 day moving average price of $118.27 and a 200-day moving average price of $124.25.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.24. The firm had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $2.11 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. grew its holdings in F5 Networks by 6.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock valued at $243,000 after buying an additional 98 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in F5 Networks by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 230,756 shares of the network technology company’s stock valued at $32,898,000 after buying an additional 8,939 shares in the last quarter. KCG Holdings Inc. purchased a new stake in F5 Networks during the 1st quarter valued at approximately $658,000. Bank of America Corp DE grew its holdings in F5 Networks by 13.1% during the 1st quarter. Bank of America Corp DE now owns 235,426 shares of the network technology company’s stock valued at $33,565,000 after buying an additional 27,322 shares in the last quarter. Finally, Janus Capital Management LLC grew its holdings in F5 Networks by 335.8% during the 1st quarter. Janus Capital Management LLC now owns 68,576 shares of the network technology company’s stock valued at $9,777,000 after buying an additional 52,839 shares in the last quarter. Institutional investors own 96.00% of the company’s stock.
In other F5 Networks news, COO Edward Julian Eames sold 4,378 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total transaction of $528,118.14. Following the sale, the chief operating officer now owns 35,088 shares in the company, valued at approximately $4,232,665.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Benjamin Gibson sold 3,262 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $117.25, for a total transaction of $382,469.50. Following the sale, the executive vice president now owns 815 shares in the company, valued at approximately $95,558.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,312 shares of company stock worth $2,675,607. 0.26% of the stock is owned by company insiders.
F5 Networks announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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