F5 Networks (NASDAQ:FFIV) Coverage Initiated by Analysts at Craig Hallum

Equities research analysts at Craig Hallum started coverage on shares of F5 Networks (NASDAQ:FFIV) in a note issued to investors on Tuesday, TipRanks reports. The brokerage set a “buy” rating and a $168.00 price target on the network technology company’s stock. Craig Hallum’s price objective would indicate a potential upside of 18.04% from the stock’s current price.

Several other equities analysts have also recently issued reports on FFIV. ValuEngine raised shares of F5 Networks from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Barclays assumed coverage on shares of F5 Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $160.00 price objective for the company. BidaskClub upgraded shares of F5 Networks from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Credit Suisse Group lifted their target price on shares of F5 Networks from $188.00 to $191.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI initiated coverage on shares of F5 Networks in a research note on Wednesday. They set an “inline” rating and a $140.00 price target on the stock. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $162.99.

F5 Networks stock traded up $1.44 during mid-day trading on Tuesday, reaching $142.32. 431,956 shares of the company were exchanged, compared to its average volume of 629,167. The firm’s 50-day simple moving average is $134.53 and its two-hundred day simple moving average is $147.19. F5 Networks has a twelve month low of $121.36 and a twelve month high of $199.71. The firm has a market cap of $8.10 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06.

F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, July 24th. The network technology company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.06). F5 Networks had a net margin of 21.03% and a return on equity of 36.33%. The company had revenue of $563.39 million during the quarter, compared to analyst estimates of $556.15 million. During the same period in the previous year, the firm posted $2.44 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts predict that F5 Networks will post 8.22 EPS for the current fiscal year.

In other F5 Networks news, EVP Stephen Mcmillan sold 1,972 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $147.16, for a total value of $290,199.52. Following the completion of the transaction, the executive vice president now directly owns 5,455 shares of the company’s stock, valued at $802,757.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan Higginson sold 1,688 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $132.90, for a total transaction of $224,335.20. Following the completion of the transaction, the director now directly owns 9,840 shares of the company’s stock, valued at $1,307,736. The disclosure for this sale can be found here. In the last three months, insiders sold 12,955 shares of company stock valued at $1,821,889. 0.22% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Guinness Asset Management Ltd grew its holdings in shares of F5 Networks by 66.7% in the 2nd quarter. Guinness Asset Management Ltd now owns 170 shares of the network technology company’s stock worth $25,000 after acquiring an additional 68 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in F5 Networks in the 2nd quarter valued at approximately $37,000. CSat Investment Advisory L.P. raised its holdings in F5 Networks by 88.1% during the second quarter. CSat Investment Advisory L.P. now owns 365 shares of the network technology company’s stock worth $53,000 after purchasing an additional 171 shares during the last quarter. JBF Capital Inc. acquired a new position in F5 Networks during the second quarter worth $61,000. Finally, Tortoise Index Solutions LLC acquired a new position in F5 Networks during the first quarter worth $66,000. Institutional investors own 94.15% of the company’s stock.

About F5 Networks

F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.

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Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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