F5 (NASDAQ:FFIV) Releases Q3 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.89-$3.01 for the period, compared to the consensus earnings per share estimate of $3.09. The company issued revenue guidance of $675-$695 million, compared to the consensus revenue estimate of $695.85 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

Analyst Upgrades and Downgrades

FFIV has been the subject of a number of analyst reports. Royal Bank of Canada reissued a sector perform rating and issued a $204.00 price objective on shares of F5 in a research report on Friday, February 9th. Barclays raised their price objective on F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. KeyCorp upped their target price on F5 from $186.00 to $204.00 and gave the company an overweight rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. raised their price target on F5 from $197.00 to $205.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC restated a buy rating and issued a $220.00 price target on shares of F5 in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $192.22.

F5 Stock Performance

Shares of NASDAQ:FFIV opened at $182.13 on Tuesday. The stock has a 50-day simple moving average of $187.66 and a 200-day simple moving average of $176.72. The stock has a market capitalization of $10.71 billion, a P/E ratio of 23.68, a PEG 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 announced its quarterly earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. F5 had a net margin of 16.43% and a return on equity of 20.81%. The firm had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $685.47 million. During the same period in the previous year, the company posted $1.70 earnings per share. F5’s revenue was down 3.1% compared to the same quarter last year. Analysts predict that F5 will post 9.59 earnings per share for the current year.

Insider Buying and Selling

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

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.