F5 Networks (NASDAQ:FFIV) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports.
Several other brokerages have also commented on FFIV. Zacks Investment Research upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a report on Monday, December 11th. Cowen restated a “buy” rating and issued a $140.00 price objective on shares of F5 Networks in a report on Friday, October 27th. Nomura lowered their target price on shares of F5 Networks from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Barclays lowered their target price on shares of F5 Networks from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Finally, Robert W. Baird reiterated a “hold” rating and set a $120.00 target price on shares of F5 Networks in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. F5 Networks presently has a consensus rating of “Hold” and a consensus target price of $125.94.
Shares of F5 Networks (FFIV) opened at $134.04 on Thursday. The stock has a market capitalization of $8,298.65, a PE ratio of 20.53, a P/E/G ratio of 2.11 and a beta of 1.06. F5 Networks has a 12 month low of $114.63 and a 12 month high of $149.50.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.24. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. F5 Networks’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.11 earnings per share. equities analysts anticipate that F5 Networks will post 6.7 EPS for the current fiscal year.
F5 Networks announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the network technology company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, COO Edward Julian Eames sold 15,489 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $120.84, for a total transaction of $1,871,690.76. Following the completion of the sale, the chief operating officer now owns 21,587 shares of the company’s stock, valued at approximately $2,608,573.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Reinland sold 2,241 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.03, for a total transaction of $271,228.23. Following the sale, the chief financial officer now directly owns 15,369 shares of the company’s stock, valued at approximately $1,860,110.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,712 shares of company stock valued at $4,316,345. 0.26% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in shares of F5 Networks during the 4th quarter valued at about $0. IFP Advisors Inc raised its position in shares of F5 Networks by 23.1% during the 1st quarter. IFP Advisors Inc now owns 948 shares of the network technology company’s stock valued at $100,000 after buying an additional 178 shares in the last quarter. New York Life Trust Co. raised its position in shares of F5 Networks by 83.3% during the 3rd quarter. New York Life Trust Co. now owns 814 shares of the network technology company’s stock valued at $101,000 after buying an additional 370 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of F5 Networks by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock valued at $102,000 after buying an additional 400 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of F5 Networks during the 4th quarter valued at about $103,000. Institutional investors own 94.66% 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.