F5 (NASDAQ:FFIV) Releases FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 13.100-13.100 for the period, compared to the consensus estimate of 12.640. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. F5 also updated its Q4 guidance to $3.38-3.50 EPS.

F5 Stock Performance

FFIV traded up $0.25 on Monday, hitting $177.59. 1,036,851 shares of the company were exchanged, compared to its average volume of 484,158. F5 has a 12 month low of $145.45 and a 12 month high of $199.49. The company has a market cap of $10.41 billion, a PE ratio of 21.24, a PEG ratio of 2.36 and a beta of 1.08. The stock’s fifty day moving average is $171.19 and its 200-day moving average is $179.08.

F5 (NASDAQ:FFIV) last released its earnings results on Monday, July 29th. The network technology company reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.40. F5 had a return on equity of 21.41% and a net margin of 17.91%. The business had revenue of $695.50 million for the quarter, compared to analyst estimates of $686.06 million. During the same quarter in the prior year, the company posted $2.46 earnings per share. F5’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that F5 will post 9.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FFIV shares. JPMorgan Chase & Co. upped their target price on F5 from $197.00 to $205.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Evercore ISI lowered their price target on F5 from $200.00 to $180.00 and set an in-line rating on the stock in a research report on Tuesday, April 30th. Barclays lowered their price target on F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a research report on Tuesday, April 30th. Needham & Company LLC reissued a buy rating and set a $220.00 price target on shares of F5 in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada lowered their price target on F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, F5 presently has a consensus rating of Hold and a consensus price target of $187.33.

Insider Activity at F5

In related news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $170.00, for a total value of $85,000.00. Following the completion of the sale, the chief financial officer now directly owns 31,608 shares in the company, valued at $5,373,360. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $170.00, for a total value of $85,000.00. Following the completion of the transaction, the chief financial officer now directly owns 31,608 shares in the company, valued at approximately $5,373,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,450 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $168.11, for a total value of $243,759.50. Following the completion of the transaction, the chief executive officer now owns 124,362 shares of the company’s stock, valued at $20,906,495.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,766 shares of company stock worth $1,990,890. Company insiders own 0.58% of the company’s stock.

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.