F5 Networks, Inc. (FFIV) Receives New Coverage from Analysts at Standpoint Research
Standpoint Research initiated coverage on shares of F5 Networks, Inc. (NASDAQ:FFIV) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued an accumulate rating and a $160.00 target price on the network technology company’s stock.
Several other brokerages also recently issued reports on FFIV. Cowen and Company reissued an outperform rating and set a $145.00 price objective on shares of F5 Networks in a research note on Monday, June 5th. Jefferies Group LLC reissued a hold rating and set a $130.00 price objective on shares of F5 Networks in a research note on Friday, June 16th. Piper Jaffray Companies downgraded shares of F5 Networks from an overweight rating to a neutral rating and reduced their price objective for the company from $144.00 to $136.00 in a research note on Friday, July 14th. Citigroup Inc. downgraded shares of F5 Networks to a market perform rating in a research note on Thursday, July 27th. Finally, Robert W. Baird reissued a hold rating on shares of F5 Networks in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. F5 Networks presently has a consensus rating of Hold and a consensus price target of $129.71.
F5 Networks (FFIV) traded down 0.3416% during mid-day trading on Monday, hitting $119.6898. 47,579 shares of the stock traded hands. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 19.8787 and a beta of 1.14. The stock’s 50 day moving average is $117.98 and its 200-day moving average is $127.09. F5 Networks has a 12 month low of $114.45 and a 12 month high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The business had revenue of $517.80 million for the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share. On average, equities research analysts anticipate that F5 Networks will post $8.17 EPS for the current year.
In other F5 Networks news, CEO Francois Locoh-Donou sold 2,029 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $119.61, for a total transaction of $242,688.69. Following the completion of the transaction, the chief executive officer now directly owns 2,636 shares of the company’s stock, valued at approximately $315,291.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Reinland sold 6,215 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total transaction of $747,478.05. Following the transaction, the chief financial officer now directly owns 20,601 shares of the company’s stock, valued at $2,477,682.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,312 shares of company stock valued at $2,675,607. 0.26% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in FFIV. Acrospire Investment Management LLC lifted its position in shares of F5 Networks by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the network technology company’s stock worth $102,000 after buying an additional 400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of F5 Networks by 23.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after buying an additional 161 shares during the last quarter. IFP Advisors Inc lifted its position in shares of F5 Networks by 65.6% in the 2nd quarter. IFP Advisors Inc now owns 959 shares of the network technology company’s stock worth $122,000 after buying an additional 380 shares during the last quarter. American Beacon Advisors Inc. bought a new position in shares of F5 Networks in the 1st quarter worth about $153,000. Finally, Van ECK Associates Corp lifted its position in shares of F5 Networks by 6.0% in the 1st quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after buying an additional 65 shares during the last quarter. 96.50% of the stock is owned by institutional investors.
About F5 Networks
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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