F5 (NASDAQ:FFIV) Updates Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.890-3.010 for the period, compared to the consensus earnings per share 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.

F5 Stock Up 0.1 %

FFIV traded up $0.19 on Monday, hitting $182.13. The company had a trading volume of 1,030,164 shares, compared to its average volume of 443,347. The business’s fifty day simple moving average is $187.66 and its 200 day simple moving average is $176.72. F5 has a 12-month low of $129.93 and a 12-month high of $199.49. The company has a market cap of $10.71 billion, a PE ratio of 23.68, a PEG ratio of 2.68 and a beta of 1.11.

F5 (NASDAQ:FFIV) last announced its 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 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 analysts’ expectations of $685.47 million. During the same quarter in the previous year, the business earned $1.70 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts anticipate that F5 will post 9.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group upped their target price 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 reissued a sector perform rating and set a $204.00 price target on shares of F5 in a research note on Friday, February 9th. KeyCorp upped their price objective on F5 from $186.00 to $204.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Finally, Barclays lifted 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $192.22.

Insider Activity at F5

In other news, CEO Francois Locoh-Donou sold 6,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $188.02, for a total value of $1,203,328.00. Following the completion of the sale, the chief executive officer now owns 123,251 shares of the company’s stock, valued at approximately $23,173,653.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other F5 news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total value of $91,155.00. Following the completion of the transaction, the chief financial officer now directly owns 32,290 shares in the company, valued at $5,886,789.90. The sale 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 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 disclosure for this sale can be found here. Insiders sold 10,201 shares of company stock worth $1,908,065 over the last three months. 0.58% of the stock is owned by corporate 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.