F5 Networks, Inc. (FFIV) Given Consensus Recommendation of “Hold” by Analysts
Shares of F5 Networks, Inc. (NASDAQ:FFIV) have earned a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $126.33.
A number of research analysts have weighed in on the company. Zacks Investment Research raised F5 Networks from a “sell” rating to a “hold” rating in a report on Monday, December 11th. Cowen reissued a “buy” rating and issued a $140.00 target price on shares of F5 Networks in a report on Friday, October 27th. Nomura lowered their target price on F5 Networks from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Barclays reduced their price target on F5 Networks from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Finally, BMO Capital Markets reduced their price target on F5 Networks from $124.00 to $122.00 and set a “market perform” rating for the company in a research report on Thursday, October 26th.
F5 Networks (NASDAQ:FFIV) traded up $0.01 during mid-day trading on Monday, reaching $132.37. The company’s stock had a trading volume of 254,100 shares, compared to its average volume of 788,989. F5 Networks has a 52 week low of $114.63 and a 52 week high of $149.50. The company has a market capitalization of $8,410.00, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06.
F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.24. F5 Networks had a return on equity of 34.70% and a net margin of 20.13%. The company had revenue of $538.00 million for the quarter, compared to the consensus estimate of $534.71 million. During the same quarter in the prior year, the company earned $2.11 earnings per share. F5 Networks’s revenue was up 2.4% on a year-over-year basis. equities analysts predict that F5 Networks will post 6.7 EPS for the current fiscal year.
F5 Networks announced that its board has initiated a stock repurchase program on Wednesday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the network technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In related news, CFO Andrew Reinland sold 2,241 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $121.03, for a total transaction of $271,228.23. Following the completion of the sale, the chief financial officer now owns 15,369 shares in the company, valued at $1,860,110.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edward Julian Eames sold 15,489 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $120.84, for a total value of $1,871,690.76. Following the sale, the chief operating officer now owns 21,587 shares of the company’s stock, valued at approximately $2,608,573.08. The disclosure for this sale can be found here. Insiders have sold 35,712 shares of company stock valued at $4,316,345 in the last quarter. 0.26% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its position in shares of F5 Networks by 3.4% during the third quarter. California Public Employees Retirement System now owns 168,309 shares of the network technology company’s stock worth $20,291,000 after purchasing an additional 5,509 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in F5 Networks by 89.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,349 shares of the network technology company’s stock valued at $405,000 after buying an additional 1,578 shares in the last quarter. Zions Bancorporation grew its holdings in F5 Networks by 16,733.3% during the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock valued at $122,000 after buying an additional 1,004 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in F5 Networks during the 3rd quarter valued at approximately $716,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in F5 Networks by 2.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,492 shares of the network technology company’s stock valued at $2,591,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 94.66% 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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