F5 Networks (NASDAQ:FFIV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $164.00 price objective on the network technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.45% from the stock’s current price.
According to Zacks, “F5 Networks provides products and services to manage Internet traffic worldwide. We believe that the company’s product refreshes will boost revenues, going forward. It is worth mentioning that the company’s GBB pricing strategy and its BIG-IQ platform remain tailwinds. Moreover, these initiatives are expected to expand the company’s total addressable market and result in client wins. Better execution and focus on enterprise and service providers have placed F5 Networks well in the application delivery controller market. Nevertheless, a volatile spending atmosphere and competition from peers remain concerns. The stock has underperformed the industry in the last one year.”
A number of other research analysts have also recently issued reports on the stock. Piper Jaffray Companies reissued a “neutral” rating and set a $146.00 price target on shares of F5 Networks in a research report on Wednesday, January 10th. BidaskClub cut shares of F5 Networks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Deutsche Bank reissued a “sell” rating on shares of F5 Networks in a research report on Friday, January 5th. DA Davidson set a $155.00 price target on shares of F5 Networks and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, BMO Capital Markets raised shares of F5 Networks from a “market perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $140.55.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, January 24th. The network technology company reported $2.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.21. F5 Networks had a net margin of 19.79% and a return on equity of 35.98%. The firm had revenue of $523.20 million during the quarter, compared to analysts’ expectations of $521.07 million. During the same period last year, the company posted $1.98 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. analysts expect that F5 Networks will post 7.23 earnings per share for the current year.
In other F5 Networks news, EVP John D. Dilullo sold 3,801 shares of F5 Networks stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $142.69, for a total value of $542,364.69. Following the completion of the transaction, the executive vice president now directly owns 7,522 shares of the company’s stock, valued at $1,073,314.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Reinland sold 1,995 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 transaction of $288,935.85. Following the completion of the transaction, the chief financial officer now directly owns 18,930 shares of the company’s stock, valued at $2,741,631.90. The disclosure for this sale can be found here. Insiders sold 50,172 shares of company stock valued at $7,274,542 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB grew its stake in shares of F5 Networks by 4.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 17,648 shares of the network technology company’s stock worth $2,316,000 after acquiring an additional 701 shares during the period. William Blair Investment Management LLC bought a new stake in shares of F5 Networks in the fourth quarter worth approximately $1,161,000. Lake Street Advisors Group LLC bought a new stake in shares of F5 Networks in the fourth quarter worth approximately $266,000. MetLife Investment Advisors LLC bought a new stake in shares of F5 Networks in the fourth quarter worth approximately $2,541,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of F5 Networks by 42.3% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 7,070 shares of the network technology company’s stock worth $928,000 after acquiring an additional 2,100 shares during the period. Hedge funds and other institutional investors own 94.34% 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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