Zacks Investment Research lowered shares of F5 Networks, Inc. (NASDAQ:FFIV) from a hold rating to a sell rating in a report issued on Wednesday.
According to Zacks, “F5 Networks provides products and services to manage Internet traffic worldwide. Shares of the company have underperformed the industry over the past one year. Cisco Systems is the most significant competitive threat to F5 Networks, given the dominance of the former in the overall networking market. In addition, Citrix, Juniper Networks, Checkpoint Systems, and Barracuda Networks also have strong technology platforms that could pose significant competitive threat on improved execution. Notably, F5 Networks continues to acquire a large number of companies. While this improves revenue opportunities, business mix and profitability, it also adds to integration risks. Also, a volatile spending atmosphere remains concerns. Nonetheless, we believe that the company’s product refreshes will boost revenues, going forward. Moreover, these initiatives are expected to expand its total addressable market and result in client wins.”
Other equities research analysts have also issued reports about the company. Wells Fargo & Company lowered F5 Networks from an outperform rating to a market perform rating and reduced their price target for the company from $145.00 to $120.00 in a report on Thursday, July 27th. Jefferies Group LLC reiterated a hold rating and set a $130.00 price target on shares of F5 Networks in a report on Friday, June 16th. Piper Jaffray Companies reduced their price target on F5 Networks to $121.00 and set a neutral rating for the company in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of F5 Networks in a report on Tuesday, September 12th. Finally, CIBC reiterated a market perform rating on shares of F5 Networks in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $128.94.
F5 Networks (NASDAQ:FFIV) traded up 0.87% on Wednesday, reaching $116.70. 989,030 shares of the company traded hands. The firm has a 50 day moving average price of $117.96 and a 200 day moving average price of $125.81. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 19.38 and a beta of 1.14. F5 Networks has a 52-week low of $114.63 and a 52-week high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. The business had revenue of $517.80 million during the quarter, compared to analyst estimates of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. Equities research analysts predict that F5 Networks will post $8.17 EPS for the current year.
In other news, EVP Benjamin Gibson sold 3,262 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $117.25, for a total transaction of $382,469.50. Following the sale, the executive vice president now directly owns 815 shares in the company, valued at $95,558.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Edward Julian Eames sold 4,378 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $120.63, for a total value of $528,118.14. Following the sale, the chief operating officer now owns 35,088 shares in the company, valued at $4,232,665.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,312 shares of company stock valued at $2,675,607. Corporate insiders own 0.26% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIV. Sei Investments Co. increased its position in shares of F5 Networks by 47.7% during the first quarter. Sei Investments Co. now owns 8,855 shares of the network technology company’s stock valued at $1,262,000 after purchasing an additional 2,858 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of F5 Networks by 0.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,071 shares of the network technology company’s stock valued at $295,000 after purchasing an additional 9 shares during the period. Van ECK Associates Corp increased its position in shares of F5 Networks by 6.0% during the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock valued at $164,000 after purchasing an additional 65 shares during the period. OppenheimerFunds Inc. increased its position in shares of F5 Networks by 6.1% during the first quarter. OppenheimerFunds Inc. now owns 1,705 shares of the network technology company’s stock valued at $243,000 after purchasing an additional 98 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of F5 Networks by 0.4% during the first quarter. Principal Financial Group Inc. now owns 118,078 shares of the network technology company’s stock valued at $16,834,000 after purchasing an additional 521 shares during the period. Institutional investors and hedge funds own 96.50% of the company’s stock.
F5 Networks Company Profile
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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