F5 (NASDAQ:FFIV) Releases FY24 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $12.52-$12.75 for the period, compared to the consensus estimate of $12.62. The company issued revenue guidance of $2.75-$2.81 billion, compared to the consensus revenue estimate of $2.79 billion. F5 also updated its Q3 guidance to $2.89-$3.01 EPS.

F5 Stock Performance

FFIV traded up $0.19 on Monday, reaching $182.13. The company had a trading volume of 962,925 shares, compared to its average volume of 441,814. The business has a 50 day simple moving average of $187.66 and a 200 day simple moving average of $176.53. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a 52-week low of $129.93 and a 52-week high of $199.49.

F5 (NASDAQ:FFIV) last announced its earnings results on Monday, April 29th. The network technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. F5 had a net margin of 16.43% and a return on equity of 20.81%. The business had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. During the same period last year, the firm posted $1.70 earnings per share. F5’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts predict that F5 will post 9.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FFIV shares. Royal Bank of Canada reiterated a sector perform rating and set a $204.00 price target on shares of F5 in a research report on Friday, February 9th. Piper Sandler raised their target price on shares of F5 from $170.00 to $187.00 and gave the stock a neutral rating in a report on Tuesday, January 30th. The Goldman Sachs Group raised their target price on shares of F5 from $156.00 to $179.00 and gave the stock a neutral rating in a report on Tuesday, January 30th. KeyCorp raised their target price on shares of F5 from $186.00 to $204.00 and gave the stock an overweight rating in a report on Thursday, January 18th. Finally, Needham & Company LLC restated a buy rating and issued a $220.00 target price on shares of F5 in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, F5 presently has a consensus rating of Hold and an average price target of $192.22.

Insider Activity at F5

In other F5 news, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total transaction of $155,784.06. Following the completion of the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other F5 news, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total transaction of $155,784.06. Following the completion of the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francois Locoh-Donou sold 6,400 shares of F5 stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $188.02, for a total value of $1,203,328.00. Following the completion of the transaction, the chief executive officer now directly owns 123,251 shares of the company’s stock, valued at approximately $23,173,653.02. The disclosure for this sale can be found here. Insiders have sold a total of 10,201 shares of company stock worth $1,908,065 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

F5 Company Profile

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.