Equities researchers at Goldman Sachs Group assumed coverage on shares of F5 Networks (NASDAQ:FFIV) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating and a $145.00 price target on the network technology company’s stock. Goldman Sachs Group’s target price indicates a potential upside of 5.65% from the company’s current price.

FFIV has been the topic of several other reports. Robert W. Baird reissued a “hold” rating and issued a $120.00 target price on shares of F5 Networks in a report on Thursday, October 26th. MKM Partners boosted their target price on F5 Networks from $133.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Piper Jaffray Companies reissued a “neutral” rating and issued a $146.00 target price on shares of F5 Networks in a report on Wednesday, January 10th. BidaskClub raised F5 Networks from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Cowen reissued a “buy” rating and issued a $140.00 target price on shares of F5 Networks in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. F5 Networks presently has a consensus rating of “Hold” and a consensus price target of $140.30.

Shares of F5 Networks (NASDAQ:FFIV) opened at $137.25 on Wednesday. F5 Networks has a 1 year low of $114.63 and a 1 year high of $149.50. The firm has a market capitalization of $8,720.00, a P/E ratio of 21.15, a P/E/G ratio of 2.16 and a beta of 1.08.

F5 Networks (NASDAQ:FFIV) last released its quarterly earnings results on Wednesday, January 24th. The network technology company reported $2.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.21. F5 Networks had a return on equity of 35.98% and a net margin of 19.79%. The company had revenue of $523.20 million for the quarter, compared to analyst estimates of $521.07 million. During the same period in the previous year, the company posted $1.98 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. equities analysts forecast that F5 Networks will post 7.23 EPS for the current fiscal year.

F5 Networks declared that its board has authorized a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network technology company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Francois Locoh-Donou sold 1,675 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $142.85, for a total value of $239,273.75. Following the completion of the transaction, the chief executive officer now owns 3,984 shares in the company, valued at $569,114.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John D. Dilullo sold 3,801 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $142.69, for a total value of $542,364.69. Following the completion of the transaction, the executive vice president now owns 7,522 shares of the company’s stock, valued at approximately $1,073,314.18. The disclosure for this sale can be found here. Insiders sold 10,209 shares of company stock valued at $1,467,119 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in shares of F5 Networks by 6.9% in the fourth quarter. D.A. Davidson & CO. now owns 23,140 shares of the network technology company’s stock worth $3,036,000 after purchasing an additional 1,503 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of F5 Networks by 11.9% in the fourth quarter. Toronto Dominion Bank now owns 27,019 shares of the network technology company’s stock worth $3,545,000 after purchasing an additional 2,865 shares during the last quarter. First Trust Advisors LP raised its stake in shares of F5 Networks by 22.0% in the fourth quarter. First Trust Advisors LP now owns 538,341 shares of the network technology company’s stock worth $70,641,000 after purchasing an additional 96,917 shares during the last quarter. Pegasus Partners Ltd. increased its position in F5 Networks by 19.4% during the fourth quarter. Pegasus Partners Ltd. now owns 34,663 shares of the network technology company’s stock valued at $4,548,000 after acquiring an additional 5,644 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in F5 Networks by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 2,380 shares of the network technology company’s stock valued at $312,000 after acquiring an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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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.

Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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