F5 Networks, Inc. (NASDAQ:FFIV) Earns Buy Rating from Cowen and Company

Cowen and Company reaffirmed their buy rating on shares of F5 Networks, Inc. (NASDAQ:FFIV) in a research report released on Friday, October 27th. The brokerage currently has a $140.00 price objective on the network technology company’s stock.

Several other research firms have also commented on FFIV. Piper Jaffray Companies lowered shares of F5 Networks from an overweight rating to a neutral rating and reduced their target price for the company from $144.00 to $136.00 in a report on Friday, July 14th. Robert W. Baird reissued a hold rating on shares of F5 Networks in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. cut shares of F5 Networks from an outperform rating to a market perform rating and dropped their target price for the stock from $145.00 to $120.00 in a research report on Thursday, July 27th. Wells Fargo & Company cut shares of F5 Networks from an outperform rating to a market perform rating and dropped their target price for the stock from $145.00 to $120.00 in a research report on Thursday, July 27th. Finally, Citigroup Inc. cut shares of F5 Networks to a market perform rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $126.76.

Shares of F5 Networks (NASDAQ:FFIV) traded up $0.37 during mid-day trading on Friday, hitting $121.22. 424,800 shares of the company were exchanged, compared to its average volume of 787,861. The stock has a market cap of $7,564.43, a PE ratio of 18.68, a P/E/G ratio of 1.92 and a beta of 1.01. F5 Networks has a 12 month low of $114.63 and a 12 month high of $149.50.

F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.24. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $534.71 million. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 EPS. equities research analysts forecast that F5 Networks will post 6.7 EPS for the current fiscal year.

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F5 Networks declared that its board has authorized a share buyback plan on Wednesday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network technology company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other F5 Networks news, EVP Edward Julian Eames sold 15,336 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total transaction of $1,856,576.16. Following the transaction, the executive vice president now directly owns 43,824 shares in the company, valued at approximately $5,305,333.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Benjamin Gibson sold 3,262 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $117.25, for a total transaction of $382,469.50. Following the sale, the executive vice president now directly owns 815 shares of the company’s stock, valued at $95,558.75. The disclosure for this sale can be found here. Insiders have sold 38,974 shares of company stock worth $4,698,814 in the last quarter. Company insiders own 0.26% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. raised its position in shares of F5 Networks by 0.8% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock valued at $235,000 after purchasing an additional 14 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of F5 Networks by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock valued at $178,000 after purchasing an additional 21 shares during the last quarter. Intrust Bank NA raised its position in shares of F5 Networks by 1.1% in the 2nd quarter. Intrust Bank NA now owns 4,590 shares of the network technology company’s stock valued at $584,000 after purchasing an additional 50 shares during the last quarter. Synovus Financial Corp raised its position in shares of F5 Networks by 4.5% in the 2nd quarter. Synovus Financial Corp now owns 1,851 shares of the network technology company’s stock valued at $241,000 after purchasing an additional 79 shares during the last quarter. Finally, MAI Capital Management raised its position in F5 Networks by 1.2% during the 2nd quarter. MAI Capital Management now owns 6,906 shares of the network technology company’s stock worth $877,000 after buying an additional 80 shares during the last quarter. 98.52% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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