F5 Networks, Inc. (FFIV) Given “Buy” Rating at Drexel Hamilton

Drexel Hamilton reissued their buy rating on shares of F5 Networks, Inc. (NASDAQ:FFIV) in a report published on Friday, July 21st. Drexel Hamilton currently has a $160.00 target price on the network technology company’s stock.

“We believe F5 will exceed our 3Q:FY17 revenue estimate of $521.5 million and match the consensus (Street is at $525.6 million), while beating our EPS projection of $2.01 and meeting the Street’s $2.03 projection. Our 3Q:FY17 sales forecast represents less than 1% QoQ growth and well below the five- year average of up 4%, representing the weakest June quarter since 3Q:FY02.”,” Drexel Hamilton’s analyst wrote.

FFIV has been the subject of a number of other reports. Jefferies Group LLC restated a hold rating and issued a $130.00 target price on shares of F5 Networks in a report on Friday, June 16th. Piper Jaffray Companies cut shares of F5 Networks from an overweight rating to a neutral rating and reduced their price target for the company from $144.00 to $136.00 in a research report on Friday, July 14th. Needham & Company LLC reaffirmed a hold rating on shares of F5 Networks in a research report on Thursday, March 30th. Oppenheimer Holdings, Inc. set a $157.00 target price on shares of F5 Networks and gave the stock a buy rating in a research report on Saturday, April 8th. Finally, Barclays PLC reissued a sell rating and set a $124.00 target price on shares of F5 Networks in a research report on Friday, April 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $131.19.

Shares of F5 Networks (NASDAQ:FFIV) traded down 1.13% during mid-day trading on Friday, reaching $116.48. 471,347 shares of the company’s stock traded hands. The company’s 50-day moving average price is $123.36 and its 200-day moving average price is $132.76. F5 Networks has a 12-month low of $114.45 and a 12-month high of $149.50. The stock has a market capitalization of $7.40 billion, a PE ratio of 19.35 and a beta of 1.16.

F5 Networks (NASDAQ:FFIV) last posted its earnings results on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.03. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $525.57 million. F5 Networks had a net margin of 18.96% and a return on equity of 33.85%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. Analysts anticipate that F5 Networks will post $8.17 earnings per share for the current year.

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In other F5 Networks news, CEO Francois Locoh-Donou sold 2,029 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $119.61, for a total transaction of $242,688.69. Following the completion of the transaction, the chief executive officer now directly owns 2,636 shares in the company, valued at $315,291.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Reinland sold 6,215 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $120.27, for a total value of $747,478.05. Following the transaction, the chief financial officer now owns 20,601 shares of the company’s stock, valued at $2,477,682.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,050 shares of company stock valued at $2,293,138. 0.26% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in FFIV. First Bank & Trust raised its stake in shares of F5 Networks by 0.3% in the first quarter. First Bank & Trust now owns 1,630 shares of the network technology company’s stock worth $232,000 after buying an additional 5 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised 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 buying an additional 9 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of F5 Networks by 0.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,418 shares of the network technology company’s stock worth $345,000 after buying an additional 14 shares during the last quarter. Contravisory Investment Management Inc. raised 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 buying an additional 14 shares during the last quarter. Finally, Concert Wealth Management Inc. raised its stake in shares of F5 Networks by 0.8% in the first quarter. Concert Wealth Management Inc. now owns 1,867 shares of the network technology company’s stock worth $267,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

F5 Networks Company Profile

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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