F5 (NASDAQ:FFIV) Releases FY24 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $12.52-$12.75 for the period, compared to the consensus earnings per share 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.

F5 Stock Up 0.1 %

Shares of NASDAQ FFIV opened at $182.13 on Tuesday. The company’s 50-day simple moving average is $187.66 and its 200-day simple moving average is $176.72. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11. F5 has a 52-week low of $129.93 and a 52-week high of $199.49.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.03. The company had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 EPS. Equities research analysts anticipate that F5 will post 9.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FFIV. JPMorgan Chase & Co. lifted their target price on F5 from $197.00 to $205.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Needham & Company LLC reissued a buy rating and set a $220.00 price objective on shares of F5 in a research report on Tuesday, February 13th. The Goldman Sachs Group increased their price objective on shares of F5 from $156.00 to $179.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a sector perform rating and set a $204.00 price objective on shares of F5 in a research report on Friday, February 9th. Finally, Barclays raised their price target on F5 from $163.00 to $206.00 and gave the company an equal weight rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, F5 currently has an average rating of Hold and a consensus target price of $192.22.

Insider Activity at F5

In other news, EVP Thomas Dean Fountain sold 851 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the sale, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other F5 news, CEO Francois Locoh-Donou sold 6,400 shares of F5 stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $188.02, for a total value of $1,203,328.00. Following the transaction, the chief executive officer now directly owns 123,251 shares in the company, valued at approximately $23,173,653.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 15,008 shares in the company, valued at approximately $2,747,364.48. The disclosure for this sale can be found here. Insiders sold a total of 10,201 shares of company stock valued at $1,908,065 in the last three months. 0.58% of the stock is currently owned by company 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.