F5 (NASDAQ:FFIV) Releases FY24 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $12.52-$12.75 for the period, compared to the consensus estimate of $12.62. The company issued revenue guidance of $2.75-$2.81 billion, compared to the consensus revenue estimate of $2.79 billion. F5 also updated its Q3 guidance to $2.89-$3.01 EPS.

F5 Stock Up 0.1 %

NASDAQ:FFIV traded up $0.19 during mid-day trading on Monday, reaching $182.13. 962,925 shares of the stock were exchanged, compared to its average volume of 441,814. The company has a 50 day simple moving average of $187.66 and a 200-day simple moving average of $176.53. The stock has a market capitalization of $10.71 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a 1 year low of $129.93 and a 1 year high of $199.49.

F5 (NASDAQ:FFIV) last released its quarterly earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. The firm had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 EPS. As a group, research analysts predict that F5 will post 9.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FFIV shares. Needham & Company LLC restated a buy rating and set a $220.00 price target on shares of F5 in a research note on Tuesday, February 13th. Royal Bank of Canada reaffirmed a sector perform rating and set a $204.00 price objective on shares of F5 in a research report on Friday, February 9th. Piper Sandler increased their price objective on F5 from $170.00 to $187.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Barclays increased their price objective on F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on F5 from $197.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, F5 currently has an average rating of Hold and a consensus price target of $192.22.

Insider Activity

In related news, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the transaction, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other F5 news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $182.31, for a total transaction of $91,155.00. Following the completion of the transaction, the chief financial officer now owns 32,290 shares of the company’s stock, valued at $5,886,789.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the transaction, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The disclosure for this sale can be found here. Insiders sold 10,201 shares of company stock valued at $1,908,065 in the last three months. 0.58% of the stock is currently owned by company insiders.

F5 Company Profile

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.