F5 (NASDAQ:FFIV) Releases Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.890-3.010 for the period, compared to the consensus estimate of 3.090. The company issued revenue guidance of $675.0 million-$695.0 million, compared to the consensus revenue estimate of $694.8 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI reduced their price target on shares of F5 from $200.00 to $180.00 and set an in-line rating on the stock in a research report on Tuesday. KeyCorp upped their target price on shares of F5 from $186.00 to $204.00 and gave the stock an overweight rating in a research note on Thursday, January 18th. Needham & Company LLC restated a buy rating and set a $220.00 target price on shares of F5 in a research note on Tuesday. Royal Bank of Canada cut their target price on shares of F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of F5 from $197.00 to $205.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $185.10.

F5 Price Performance

Shares of FFIV traded down $14.60 during mid-day trading on Tuesday, reaching $167.53. 826,921 shares of the company’s stock were exchanged, compared to its average volume of 447,819. The stock has a market capitalization of $9.85 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11. The business’s fifty day simple moving average is $187.66 and its 200-day simple moving average is $176.72. F5 has a 52-week low of $129.93 and a 52-week high of $199.49.

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

Insider Buying and Selling

In related news, CFO Francis J. Pelzer sold 500 shares of the 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 sale, the chief financial officer now directly owns 32,290 shares of the company’s stock, valued at $5,886,789.90. The sale was disclosed in a filing with the SEC, which is available 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 value of $91,155.00. Following the completion of the sale, 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 filing with the SEC, which is available through this hyperlink. Also, EVP Thomas Dean Fountain sold 851 shares of F5 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 a total of 10,201 shares of company stock valued at $1,908,065 over the last three months. 0.58% of the stock is currently owned by company insiders.

About F5

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.