F5 Networks, Inc. (FFIV) Forecasted to Post Q1 2019 Earnings of $1.62 Per Share

F5 Networks, Inc. (NASDAQ:FFIV) – Analysts at KeyCorp boosted their Q1 2019 EPS estimates for shares of F5 Networks in a research report issued on Thursday. KeyCorp analyst A. Kurtz now expects that the network technology company will post earnings of $1.62 per share for the quarter, up from their prior forecast of $1.58. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for F5 Networks’ Q2 2019 earnings at $1.77 EPS, Q3 2019 earnings at $1.76 EPS and Q4 2019 earnings at $2.06 EPS.

F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.24. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The company had revenue of $538.00 million during the quarter, compared to analyst estimates of $534.71 million. During the same quarter last year, the business posted $2.11 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.

Several other equities research analysts have also commented on FFIV. Morgan Stanley reduced their price target on shares of F5 Networks from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, October 9th. Drexel Hamilton restated a “buy” rating and issued a $160.00 price target on shares of F5 Networks in a report on Monday, October 23rd. Nomura reduced their price target on shares of F5 Networks from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Standpoint Research initiated coverage on shares of F5 Networks in a report on Monday, October 2nd. They issued an “accumulate” rating and a $160.00 price target for the company. Finally, Oppenheimer restated a “hold” rating on shares of F5 Networks in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $132.16.

Shares of F5 Networks (NASDAQ FFIV) traded up $0.76 on Monday, reaching $138.76. 718,400 shares of the company were exchanged, compared to its average volume of 600,792. F5 Networks has a one year low of $114.63 and a one year high of $149.50. The company has a market cap of $8,685.48, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.

F5 Networks announced that its board has approved a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In other F5 Networks news, EVP Edward Julian Eames sold 15,336 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total transaction of $1,856,576.16. Following the sale, the executive vice president now owns 43,824 shares of the company’s stock, valued at approximately $5,305,333.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Reinland sold 2,241 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was 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 in the company, valued at approximately $1,860,110.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,712 shares of company stock valued at $4,316,345. 0.26% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of F5 Networks by 23.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock valued at $110,000 after acquiring an additional 161 shares during the last quarter. Zions Bancorporation boosted its holdings in shares of F5 Networks by 16,733.3% in the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock valued at $122,000 after acquiring an additional 1,004 shares during the last quarter. Institute for Wealth Management LLC. purchased a new stake in shares of F5 Networks in the 2nd quarter valued at $234,000. Cadence Capital Management LLC purchased a new stake in shares of F5 Networks in the 3rd quarter valued at $241,000. Finally, QCM Cayman Ltd. boosted its holdings in shares of F5 Networks by 14.8% in the 2nd quarter. QCM Cayman Ltd. now owns 1,937 shares of the network technology company’s stock valued at $246,000 after acquiring an additional 250 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors.

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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.

Earnings History and Estimates for F5 Networks (NASDAQ:FFIV)

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