F5 Networks (NASDAQ:FFIV) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, BidAskClub reports.
Several other analysts have also issued reports on FFIV. Goldman Sachs Group lowered shares of F5 Networks from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $165.00 to $120.00 in a research report on Monday, July 8th. Credit Suisse Group raised their price target on shares of F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Zacks Investment Research lowered shares of F5 Networks from a “hold” rating to a “sell” rating and set a $162.00 price target on the stock. in a research report on Monday, July 29th. Finally, ValuEngine upgraded shares of F5 Networks from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. F5 Networks presently has a consensus rating of “Hold” and a consensus target price of $167.24.
FFIV traded down $5.72 during trading on Thursday, hitting $139.04. The stock had a trading volume of 829,099 shares, compared to its average volume of 737,791. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.12 and a beta of 1.05. F5 Networks has a 12 month low of $131.53 and a 12 month high of $199.71. The company has a 50 day simple moving average of $145.23.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, July 24th. The network technology company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.06). The company had revenue of $563.39 million during the quarter, compared to analyst estimates of $556.15 million. F5 Networks had a return on equity of 36.33% and a net margin of 21.03%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 earnings per share. On average, analysts forecast that F5 Networks will post 8.22 earnings per share for the current fiscal year.
In other news, EVP Thomas Dean Fountain sold 188 shares of F5 Networks stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $143.61, for a total transaction of $26,998.68. Following the sale, the executive vice president now directly owns 1,729 shares in the company, valued at approximately $248,301.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 416 shares of company stock worth $59,046. 0.22% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of FFIV. Norges Bank acquired a new stake in shares of F5 Networks during the 4th quarter valued at about $110,515,000. Swedbank boosted its position in shares of F5 Networks by 11.8% during the 1st quarter. Swedbank now owns 892,194 shares of the network technology company’s stock valued at $140,012,000 after acquiring an additional 93,984 shares in the last quarter. Bank of Montreal Can boosted its position in shares of F5 Networks by 6.7% during the 1st quarter. Bank of Montreal Can now owns 1,461,116 shares of the network technology company’s stock valued at $229,293,000 after acquiring an additional 92,149 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of F5 Networks by 6.1% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,311,316 shares of the network technology company’s stock valued at $205,784,000 after acquiring an additional 75,676 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of F5 Networks by 1.4% during the 1st quarter. BlackRock Inc. now owns 5,448,618 shares of the network technology company’s stock valued at $855,052,000 after acquiring an additional 74,802 shares in the last quarter. Institutional investors and hedge funds own 99.30% of the company’s stock.
About F5 Networks
F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.
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