DA Davidson Reiterates $155.00 Price Target for F5 Networks (FFIV)

F5 Networks (NASDAQ:FFIV) has been assigned a $155.00 target price by research analysts at DA Davidson in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the network technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 10.30% from the stock’s current price.

Several other research firms have also issued reports on FFIV. Royal Bank of Canada reiterated a “hold” rating and set a $129.00 target price on shares of F5 Networks in a report on Tuesday, October 10th. Oppenheimer reiterated a “hold” rating on shares of F5 Networks in a report on Tuesday, October 3rd. Drexel Hamilton reiterated a “buy” rating and set a $160.00 target price on shares of F5 Networks in a report on Monday, October 23rd. Zacks Investment Research lowered shares of F5 Networks from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets upgraded shares of F5 Networks from a “market perform” rating to an “outperform” rating and set a $122.00 target price for the company in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $132.16.

Shares of F5 Networks (NASDAQ FFIV) opened at $140.52 on Wednesday. The firm has a market capitalization of $8,876.39, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.06. F5 Networks has a 12-month low of $114.63 and a 12-month high of $149.50.

F5 Networks (NASDAQ:FFIV) last released its earnings results on Wednesday, October 25th. The network technology company reported $2.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.24. F5 Networks had a net margin of 20.13% and a return on equity of 34.70%. The firm had revenue of $538.00 million during the quarter, compared to analyst estimates of $534.71 million. During the same period last year, the business earned $2.11 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. equities analysts predict that F5 Networks will post 6.74 EPS for the current year.

F5 Networks declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other F5 Networks news, EVP Edward Julian Eames sold 15,336 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $121.06, for a total transaction of $1,856,576.16. Following the completion of the sale, the executive vice president now directly owns 43,824 shares in the company, valued at approximately $5,305,333.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Francois Locoh-Donou sold 1,714 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $119.87, for a total transaction of $205,457.18. Following the sale, the chief executive officer now owns 2,119 shares of the company’s stock, valued at $254,004.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,712 shares of company stock valued at $4,316,345. 0.26% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FFIV. Koch Industries Inc. purchased a new stake in F5 Networks during the 2nd quarter valued at $832,000. Janus Henderson Group PLC raised its stake in F5 Networks by 424.5% during the 2nd quarter. Janus Henderson Group PLC now owns 748,290 shares of the network technology company’s stock valued at $95,081,000 after buying an additional 605,629 shares during the last quarter. APG Asset Management N.V. raised its stake in F5 Networks by 65.7% during the 3rd quarter. APG Asset Management N.V. now owns 1,116,349 shares of the network technology company’s stock valued at $134,587,000 after buying an additional 442,600 shares during the last quarter. FMR LLC raised its stake in F5 Networks by 30.7% during the 2nd quarter. FMR LLC now owns 1,185,212 shares of the network technology company’s stock valued at $150,592,000 after buying an additional 278,682 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its stake in F5 Networks by 24.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,401,720 shares of the network technology company’s stock valued at $168,991,000 after buying an additional 274,997 shares during the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.

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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.

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