Q2 2018 EPS Estimates for F5 Networks, Inc. (FFIV) Increased by Analyst
F5 Networks, Inc. (NASDAQ:FFIV) – Investment analysts at DA Davidson lifted their Q2 2018 earnings estimates for F5 Networks in a report released on Wednesday. DA Davidson analyst M. Kelleher now expects that the network technology company will post earnings per share of $1.67 for the quarter, up from their previous forecast of $1.66. DA Davidson currently has a “Buy” rating and a $155.00 price objective on the stock. DA Davidson also issued estimates for F5 Networks’ Q3 2018 earnings at $1.75 EPS.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.24. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The firm had revenue of $538.00 million for the quarter, compared to the consensus estimate of $534.71 million. During the same quarter in the previous year, the company earned $2.11 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year.
Shares of F5 Networks (NASDAQ:FFIV) opened at $138.76 on Friday. F5 Networks has a 52 week low of $114.63 and a 52 week high of $149.50. The firm has a market cap of $8,637.91, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.19 and a beta of 1.06.
F5 Networks declared that its board has initiated a share buyback plan on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Edward Julian Eames sold 15,336 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total value of $1,856,576.16. Following the sale, the executive vice president now owns 43,824 shares in the company, valued at approximately $5,305,333.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Reinland sold 2,241 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were 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 approximately $1,860,110.07. The disclosure for this sale can be found here. Insiders sold a total of 35,712 shares of company stock worth $4,316,345 in the last 90 days. 0.26% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in FFIV. Neuberger Berman Group LLC bought a new position in shares of F5 Networks in the second quarter valued at about $269,000. Franklin Resources Inc. raised its holdings in shares of F5 Networks by 9.4% in the second quarter. Franklin Resources Inc. now owns 22,740 shares of the network technology company’s stock valued at $2,889,000 after buying an additional 1,962 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of F5 Networks by 11.4% in the second quarter. Teachers Advisors LLC now owns 158,802 shares of the network technology company’s stock valued at $20,177,000 after buying an additional 16,205 shares during the last quarter. Amalgamated Bank raised its holdings in shares of F5 Networks by 50.7% in the second quarter. Amalgamated Bank now owns 7,608 shares of the network technology company’s stock valued at $967,000 after buying an additional 2,560 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of F5 Networks in the second quarter valued at about $2,115,000. 94.87% of the stock is owned by institutional investors and hedge funds.
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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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