F5 (NASDAQ:FFIV) Releases FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 12.520-12.750 for the period, compared to the consensus estimate of 12.060. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. F5 also updated its FY24 guidance to $12.52-$12.75 EPS.

F5 Trading Down 1.4 %

NASDAQ FFIV traded down $2.36 during midday trading on Thursday, hitting $164.26. The company had a trading volume of 287,138 shares, compared to its average volume of 467,602. The company has a market capitalization of $9.66 billion, a PE ratio of 19.95, a P/E/G ratio of 2.43 and a beta of 1.14. The firm has a 50-day moving average price of $187.01 and a 200-day moving average price of $176.75. F5 has a twelve month low of $130.34 and a twelve month high of $199.49.

F5 (NASDAQ:FFIV) last announced its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $685.47 million. F5 had a return on equity of 21.41% and a net margin of 17.91%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 EPS. On average, equities analysts anticipate that F5 will post 9.59 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FFIV shares. KeyCorp lifted their price target on F5 from $186.00 to $204.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Royal Bank of Canada decreased their price target on F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research note on Tuesday. The Goldman Sachs Group lifted their price target on F5 from $156.00 to $179.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Barclays decreased their price target on F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC restated a buy rating and set a $220.00 price objective on shares of F5 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, F5 has a consensus rating of Hold and an average target price of $185.10.

Insiders Place Their Bets

In other F5 news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $178.81, for a total transaction of $89,405.00. Following the transaction, the chief financial officer now directly owns 31,290 shares of the company’s stock, valued at approximately $5,594,964.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the transaction, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,201 shares of company stock valued at $1,908,065. 0.58% of the stock is currently owned by company insiders.

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.