F5 Networks (NASDAQ:FFIV) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, February 3rd.
A number of other research firms have also recently issued reports on FFIV. Morgan Stanley lifted their price objective on F5 Networks from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Robert W. Baird reissued a “hold” rating and set a $145.00 price objective on shares of F5 Networks in a research report on Thursday, January 25th. DA Davidson reaffirmed a “buy” rating and issued a $167.00 price target on shares of F5 Networks in a research report on Thursday, January 25th. Jefferies Group reaffirmed a “hold” rating on shares of F5 Networks in a research report on Thursday, January 25th. Finally, BMO Capital Markets boosted their price target on F5 Networks from $156.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. F5 Networks has a consensus rating of “Hold” and a consensus price target of $140.30.
Shares of F5 Networks (NASDAQ:FFIV) opened at $142.43 on Friday. The stock has a market capitalization of $8,667.50, a price-to-earnings ratio of 21.91, a P/E/G ratio of 2.14 and a beta of 1.08. F5 Networks has a 12-month low of $114.63 and a 12-month high of $149.50.
F5 Networks (NASDAQ:FFIV) last released its quarterly earnings data on Wednesday, January 24th. The network technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The firm had revenue of $523.20 million during 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%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 earnings per share. equities research analysts anticipate that F5 Networks will post 7.23 earnings per share for the current fiscal year.
F5 Networks declared that its board has approved a share repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, EVP Scot Frazier Rogers sold 2,738 shares of F5 Networks stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $144.83, for a total value of $396,544.54. Following the transaction, the executive vice president now directly owns 9,072 shares in the company, valued at $1,313,897.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francois Locoh-Donou sold 1,675 shares of F5 Networks stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $142.85, for a total value of $239,273.75. Following the completion of the transaction, the chief executive officer now owns 3,984 shares in the company, valued at $569,114.40. The disclosure for this sale can be found here. Insiders sold 10,209 shares of company stock worth $1,467,119 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in F5 Networks by 7.5% during the fourth quarter. BlackRock Inc. now owns 4,543,458 shares of the network technology company’s stock valued at $596,195,000 after acquiring an additional 317,414 shares during the period. APG Asset Management N.V. increased its stake in F5 Networks by 37.9% during the fourth quarter. APG Asset Management N.V. now owns 1,539,343 shares of the network technology company’s stock valued at $168,215,000 after acquiring an additional 422,994 shares during the period. Bank of New York Mellon Corp increased its stake in F5 Networks by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 1,410,973 shares of the network technology company’s stock valued at $170,107,000 after acquiring an additional 26,260 shares during the period. Old Mutual Global Investors UK Ltd. increased its stake in F5 Networks by 24.4% during the third 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 acquiring an additional 274,997 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in F5 Networks by 26.0% during the third quarter. Ameriprise Financial Inc. now owns 1,262,621 shares of the network technology company’s stock valued at $152,223,000 after acquiring an additional 260,316 shares during the period. Hedge funds and other institutional investors own 95.05% 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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