F5 (NASDAQ:FFIV) Releases FY24 Earnings Guidance

F5 (NASDAQ:FFIV) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $12.52-$12.75 for the period, compared to the consensus estimate of $12.62. The company issued revenue guidance of $2.75-$2.81 billion, compared to the consensus revenue estimate of $2.79 billion. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FFIV. Barclays raised their target price on F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their target price on F5 from $197.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their target price on F5 from $156.00 to $179.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Piper Sandler lifted their target price on F5 from $170.00 to $187.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $204.00 price objective on shares of F5 in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $192.22.

F5 Price Performance

Shares of FFIV traded up $0.19 on Monday, hitting $182.13. The company’s stock had a trading volume of 1,030,164 shares, compared to its average volume of 443,347. The company has a market capitalization of $10.71 billion, a PE ratio of 23.51, a PEG ratio of 2.68 and a beta of 1.11. 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 moving average price of $187.66 and a 200 day moving average price of $176.53.

F5 (NASDAQ:FFIV) last announced its earnings results on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.88 by $0.03. The business had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. F5’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 EPS. On average, equities analysts forecast that F5 will post 9.59 EPS for the current year.

Insider Buying and Selling

In related news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the transaction, the executive vice president now owns 15,008 shares in the company, valued at approximately $2,747,364.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the transaction, the executive vice president now owns 15,008 shares in the company, valued at approximately $2,747,364.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francois Locoh-Donou sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $188.02, for a total transaction of $1,203,328.00. Following the completion of the transaction, the chief executive officer now owns 123,251 shares of the company’s stock, valued at approximately $23,173,653.02. The disclosure for this sale can be found here. Insiders sold 10,201 shares of company stock worth $1,908,065 in the last quarter. 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.