Piper Jaffray Companies Reaffirms “Neutral” Rating for F5 Networks (NASDAQ:FFIV)

Piper Jaffray Companies reissued their neutral rating on shares of F5 Networks (NASDAQ:FFIV) in a research note released on Wednesday, January 10th, Marketbeat reports. The brokerage currently has a $146.00 target price on the network technology company’s stock.

Other analysts have also issued research reports about the stock. Standpoint Research started coverage on shares of F5 Networks in a research report on Monday, October 2nd. They issued an accumulate rating and a $160.00 price objective on the stock. Drexel Hamilton reissued a buy rating and issued a $160.00 price target on shares of F5 Networks in a research report on Monday, October 23rd. Cowen reissued a buy rating and issued a $140.00 price target on shares of F5 Networks in a research note on Friday, October 27th. Bank of America raised shares of F5 Networks from a neutral rating to a buy rating and set a $157.00 price objective for the company in a research note on Friday, January 5th. Finally, Morgan Stanley dropped their price target on shares of F5 Networks from $130.00 to $120.00 and set an equal weight rating for the company in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $132.16.

F5 Networks (NASDAQ FFIV) traded down $1.29 during midday trading on Wednesday, hitting $140.52. 569,600 shares of the company traded hands, compared to its average volume of 578,550. F5 Networks has a twelve month low of $114.63 and a twelve month high of $149.50. The firm has a market cap of $8,770.00, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.06.

F5 Networks (NASDAQ:FFIV) last released its quarterly earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.24. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The firm had revenue of $538.00 million during the quarter, compared to the consensus estimate of $534.71 million. During the same quarter last year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. equities research analysts forecast that F5 Networks will post 6.74 EPS for the current year.

F5 Networks announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network technology company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other F5 Networks news, CFO Andrew Reinland sold 2,241 shares of F5 Networks stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.03, for a total transaction of $271,228.23. Following the completion of the transaction, the chief financial officer now directly owns 15,369 shares of the company’s stock, valued at $1,860,110.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francois Locoh-Donou sold 1,714 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $119.87, for a total transaction of $205,457.18. Following the sale, the chief executive officer now directly owns 2,119 shares of the company’s stock, valued at $254,004.53. The disclosure for this sale can be found here. Insiders sold 35,712 shares of company stock worth $4,316,345 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Aurora Investment Counsel bought a new stake in shares of F5 Networks in the fourth quarter valued at about $2,806,000. California Public Employees Retirement System raised its holdings in F5 Networks by 3.4% in the third quarter. California Public Employees Retirement System now owns 168,309 shares of the network technology company’s stock worth $20,291,000 after purchasing an additional 5,509 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in F5 Networks by 89.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,349 shares of the network technology company’s stock worth $405,000 after purchasing an additional 1,578 shares in the last quarter. Zions Bancorporation raised its holdings in F5 Networks by 16,733.3% in the third quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock worth $122,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new position in F5 Networks in the third quarter worth about $716,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.

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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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