F5 Networks (FFIV) Research Coverage Started at Goldman Sachs Group

Investment analysts at Goldman Sachs Group assumed coverage on shares of F5 Networks (NASDAQ:FFIV) in a note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $145.00 price target on the network technology company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 2.85% from the company’s current price.

Several other equities analysts have also issued reports on FFIV. BidaskClub upgraded F5 Networks from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America raised their price target on F5 Networks from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of F5 Networks in a research report on Thursday, January 25th. Cowen restated a “buy” rating and set a $162.00 price target on shares of F5 Networks in a research report on Thursday, January 25th. Finally, MKM Partners raised their price target on F5 Networks from $133.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. F5 Networks presently has a consensus rating of “Hold” and a consensus price target of $140.30.

Shares of F5 Networks (NASDAQ FFIV) traded up $1.25 during midday trading on Wednesday, hitting $140.98. The company had a trading volume of 74,374 shares, compared to its average volume of 882,824. The stock has a market cap of $8,421.98, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. F5 Networks has a 52 week low of $114.63 and a 52 week high of $149.50.

F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, January 24th. The network technology company reported $2.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.21. The company had revenue of $523.20 million for the quarter, compared to analysts’ expectations of $521.07 million. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. F5 Networks’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. equities analysts forecast that F5 Networks will post 7.23 EPS for the current year.

F5 Networks announced that its Board of Directors has authorized a share buyback program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, CEO Francois Locoh-Donou sold 1,675 shares of F5 Networks stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $142.85, for a total value of $239,273.75. Following the sale, the chief executive officer now directly owns 3,984 shares in the company, valued at approximately $569,114.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John D. Dilullo sold 3,801 shares of F5 Networks stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $142.69, for a total value of $542,364.69. Following the completion of the sale, the executive vice president now owns 7,522 shares in the company, valued at $1,073,314.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,209 shares of company stock worth $1,467,119. Corporate insiders own 0.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Koch Industries Inc. purchased a new position in shares of F5 Networks in the 2nd quarter valued at approximately $832,000. Janus Henderson Group PLC lifted its stake in shares of F5 Networks by 424.5% in the 2nd quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock valued at $95,081,000 after purchasing an additional 605,629 shares during the period. LSV Asset Management lifted its stake in shares of F5 Networks by 150.0% in the 4th quarter. LSV Asset Management now owns 743,626 shares of the network technology company’s stock valued at $97,578,000 after purchasing an additional 446,142 shares during the period. APG Asset Management N.V. lifted its stake in shares of F5 Networks by 65.7% in the 3rd quarter. APG Asset Management N.V. now owns 1,116,349 shares of the network technology company’s stock valued at $134,587,000 after purchasing an additional 442,600 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in shares of F5 Networks by 24.4% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock valued at $168,991,000 after purchasing an additional 274,997 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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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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