Royal Bank of Canada Lowers F5 (NASDAQ:FFIV) Price Target to $182.00

F5 (NASDAQ:FFIV) had its price objective cut by investment analysts at Royal Bank of Canada from $204.00 to $182.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the network technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 10.58% from the stock’s previous close.

FFIV has been the subject of a number of other research reports. KeyCorp upped their price objective on shares of F5 from $186.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Piper Sandler reissued a “neutral” rating and set a $167.00 price objective (down from $187.00) on shares of F5 in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of F5 in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of F5 from $197.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays lowered their price target on F5 from $206.00 to $189.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, F5 currently has an average rating of “Hold” and an average price target of $185.10.

F5 Stock Down 9.6 %

NASDAQ FFIV traded down $17.55 during trading hours on Tuesday, reaching $164.58. 583,227 shares of the company were exchanged, compared to its average volume of 444,690. The stock has a market capitalization of $9.68 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.68 and a beta of 1.11. The business’s 50 day simple moving average is $187.66 and its 200-day simple moving average is $176.72. F5 has a 1 year low of $129.93 and a 1 year high of $199.49.

F5 (NASDAQ:FFIV) last announced its quarterly earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm had revenue of $681.00 million for 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 company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, sell-side analysts anticipate that F5 will post 9.59 earnings per share for the current year.

Insider Transactions at F5

In other news, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the sale, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the sale, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,450 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $188.85, for a total transaction of $273,832.50. Following the completion of the sale, the chief executive officer now owns 121,801 shares of the company’s stock, valued at approximately $23,002,118.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,201 shares of company stock worth $1,908,065. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F5

A number of hedge funds have recently made changes to their positions in FFIV. Atlantic Edge Private Wealth Management LLC bought a new position in F5 in the fourth quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in F5 during the fourth quarter valued at approximately $34,000. Washington Trust Advisors Inc. acquired a new stake in F5 in the fourth quarter valued at approximately $36,000. Register Financial Advisors LLC purchased a new position in F5 in the first quarter worth $38,000. Finally, Addison Advisors LLC increased its position in shares of F5 by 36.1% during the third quarter. Addison Advisors LLC now owns 279 shares of the network technology company’s stock worth $45,000 after purchasing an additional 74 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

F5 Company Profile

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.