F5 (NASDAQ:FFIV) Issues Q3 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $2.89-$3.01 for the period, compared to the consensus earnings per share estimate of $3.09. The company issued revenue guidance of $675-$695 million, compared to the consensus revenue estimate of $695.85 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

F5 Stock Up 0.1 %

FFIV opened at $182.13 on Tuesday. F5 has a twelve month low of $129.93 and a twelve month high of $199.49. The company’s 50-day moving average price is $187.66 and its two-hundred day moving average price is $176.72. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.68 and a beta of 1.11.

F5 (NASDAQ:FFIV) last posted its quarterly earnings results on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, topping 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 company had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $685.47 million. During the same quarter in the previous year, the firm posted $1.70 EPS. F5’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that F5 will post 9.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on F5 from $197.00 to $205.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on shares of F5 from $170.00 to $187.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Needham & Company LLC restated a buy rating and set a $220.00 price target on shares of F5 in a research note on Tuesday, February 13th. KeyCorp lifted their price objective on shares of F5 from $186.00 to $204.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Finally, The Goldman Sachs Group increased their target price on F5 from $156.00 to $179.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $192.22.

Insider Activity

In related news, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $178.81, for a total value of $89,405.00. Following the transaction, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the transaction, the chief financial officer now owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,450 shares of F5 stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $188.85, for a total value of $273,832.50. Following the sale, the chief executive officer now directly owns 121,801 shares of the company’s stock, valued at approximately $23,002,118.85. The disclosure for this sale can be found here. Insiders sold 10,201 shares of company stock worth $1,908,065 in the last three months. Corporate insiders own 0.58% of the company’s stock.

About F5

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.