F5 Networks, Inc. (NASDAQ:FFIV) had its target price dropped by analysts at Morgan Stanley from $130.00 to $120.00 in a research note issued on Monday, October 9th. The firm currently has an “equal weight” rating on the network technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 0.44% from the company’s previous close.
Several other equities analysts have also weighed in on FFIV. Robert W. Baird reissued a “hold” rating and set a $125.00 price objective on shares of F5 Networks in a report on Wednesday, October 4th. Piper Jaffray Companies reduced their price objective on F5 Networks to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and set a $124.00 price objective (down from $132.00) on shares of F5 Networks in a report on Thursday, July 27th. CIBC reissued a “market perform” rating on shares of F5 Networks in a report on Thursday, July 27th. Finally, Barclays PLC reduced their price objective on F5 Networks from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. F5 Networks currently has an average rating of “Hold” and a consensus target price of $128.06.
Shares of F5 Networks (NASDAQ:FFIV) opened at 119.48 on Monday. The firm has a market cap of $7.59 billion, a P/E ratio of 19.84 and a beta of 1.14. F5 Networks has a 12-month low of $114.63 and a 12-month high of $149.50. The firm’s 50-day moving average price is $117.81 and its 200 day moving average price is $124.88.
F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The company had revenue of $517.80 million during the quarter, compared to analyst estimates of $525.57 million. F5 Networks had a return on equity of 33.85% and a net margin of 18.96%. F5 Networks’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. On average, equities analysts expect that F5 Networks will post $8.17 earnings per share for the current fiscal year.
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In other news, EVP John D. Dilullo sold 3,052 shares of F5 Networks stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $120.55, for a total value of $367,918.60. Following the transaction, the executive vice president now owns 7,255 shares in the company, valued at $874,590.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Francois Locoh-Donou sold 2,029 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $119.61, for a total value of $242,688.69. Following the completion of the sale, the chief executive officer now directly owns 2,636 shares in the company, valued at $315,291.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,312 shares of company stock worth $2,675,607. Company insiders own 0.26% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of F5 Networks by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,071 shares of the network technology company’s stock worth $295,000 after purchasing an additional 9 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in shares of F5 Networks by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 1,846 shares of the network technology company’s stock worth $235,000 after purchasing an additional 14 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of F5 Networks by 1.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,397 shares of the network technology company’s stock worth $178,000 after purchasing an additional 21 shares during the last quarter. Intrust Bank NA grew its stake in shares of F5 Networks by 1.1% in the second quarter. Intrust Bank NA now owns 4,590 shares of the network technology company’s stock worth $584,000 after purchasing an additional 50 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of F5 Networks by 6.0% in the first quarter. Van ECK Associates Corp now owns 1,153 shares of the network technology company’s stock worth $164,000 after purchasing an additional 65 shares during the last quarter. 96.25% of the stock is currently owned by 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.
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