F5 Networks, Inc. (NASDAQ:FFIV) Rating Lowered to Market Perform at Citigroup Inc.
Citigroup Inc. lowered shares of F5 Networks, Inc. (NASDAQ:FFIV) to a market perform rating in a research note issued to investors on Thursday morning, The Fly reports.
A number of other analysts have also weighed in on FFIV. Oppenheimer Holdings, Inc. set a $157.00 target price on shares of F5 Networks and gave the stock a buy rating in a research note on Saturday, April 8th. Drexel Hamilton restated a buy rating and set a $165.00 target price on shares of F5 Networks in a research note on Monday, April 24th. Morgan Stanley cut their target price on shares of F5 Networks from $136.00 to $130.00 and set an equal weight rating on the stock in a research note on Friday, April 28th. Credit Suisse Group set a $138.00 target price on shares of F5 Networks and gave the stock a hold rating in a research note on Thursday, April 20th. Finally, Needham & Company LLC restated a hold rating on shares of F5 Networks in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. F5 Networks has a consensus rating of Hold and a consensus price target of $132.00.
F5 Networks (FFIV) traded down 0.76% on Thursday, reaching $120.80. 185,144 shares of the company’s stock were exchanged. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 20.06 and a beta of 1.17. F5 Networks has a one year low of $114.45 and a one year high of $149.50. The firm has a 50 day moving average of $127.78 and a 200-day moving average of $135.13.
F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.03. The business had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. Equities research analysts forecast that F5 Networks will post $8.18 EPS for the current fiscal year.
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In other F5 Networks news, CFO Andrew Reinland sold 6,235 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $127.40, for a total value of $794,339.00. Following the completion of the sale, the chief financial officer now owns 18,602 shares of the company’s stock, valued at $2,369,894.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John D. Dilullo sold 3,420 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $127.62, for a total value of $436,460.40. Following the completion of the sale, the executive vice president now directly owns 4,926 shares of the company’s stock, valued at approximately $628,656.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,655 shares of company stock valued at $2,532,499. Corporate insiders own 0.26% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FFIV. American Beacon Advisors Inc. acquired a new stake in F5 Networks during the first quarter worth approximately $153,000. Van ECK Associates Corp increased its stake in F5 Networks by 6.0% in the first 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 period. Bronfman E.L. Rothschild L.P. increased its stake in F5 Networks by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,376 shares of the network technology company’s stock worth $196,000 after buying an additional 67 shares during the period. First Bank & Trust increased its stake in F5 Networks by 0.3% in the first quarter. First Bank & Trust now owns 1,630 shares of the network technology company’s stock worth $232,000 after buying an additional 5 shares during the period. Finally, Contravisory Investment Management Inc. increased its stake in F5 Networks by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock worth $235,000 after buying an additional 14 shares during the period. 94.75% 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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