F5 (NASDAQ:FFIV) Issues FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 12.520-12.750 for the period, compared to the consensus EPS 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 Stock Performance

Shares of FFIV stock traded up $0.19 during trading hours on Monday, hitting $182.13. 1,030,164 shares of the company were exchanged, compared to its average volume of 443,347. F5 has a fifty-two week low of $129.93 and a fifty-two week high of $199.49. The company has a 50 day simple moving average of $187.66 and a two-hundred day simple moving average of $176.72. The firm has a market cap of $10.71 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.68 and a beta of 1.11.

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

Analyst Ratings Changes

A number of equities research analysts have commented on FFIV shares. The Goldman Sachs Group raised their price objective on F5 from $156.00 to $179.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Royal Bank of Canada restated a sector perform rating and set a $204.00 price target on shares of F5 in a research note on Friday, February 9th. Piper Sandler upped their price objective on shares of F5 from $170.00 to $187.00 and gave the stock a neutral rating in a report on Tuesday, January 30th. Needham & Company LLC reiterated a buy rating and set a $220.00 price objective on shares of F5 in a report on Tuesday, February 13th. 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 report on Thursday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $192.22.

Insider Activity at F5

In other news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the transaction, the chief financial officer now owns 31,290 shares in the company, valued at approximately $5,594,964.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Francois Locoh-Donou sold 6,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $188.02, for a total transaction of $1,203,328.00. Following the completion of the sale, the chief executive officer now owns 123,251 shares in the company, valued at $23,173,653.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $89,405.00. Following the completion of the transaction, the chief financial officer now owns 31,290 shares in the company, valued at $5,594,964.90. The disclosure for this sale can be found here. Insiders have sold 10,201 shares of company stock valued at $1,908,065 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.