JPMorgan Chase & Co. downgraded shares of F5 Networks (NASDAQ:FFIV) from an overweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $183.00 price objective on the network technology company’s stock, down from their prior price objective of $210.00.
A number of other brokerages have also recently commented on FFIV. Zacks Investment Research reiterated a buy rating and issued a $189.00 target price on shares of F5 Networks in a research report on Tuesday, November 13th. BidaskClub upgraded shares of F5 Networks from a hold rating to a buy rating in a research report on Thursday, December 20th. William Blair cut shares of F5 Networks from an outperform rating to a market perform rating and set a $161.86 target price for the company. in a research report on Thursday, January 17th. Credit Suisse Group reiterated a buy rating and issued a $218.00 target price on shares of F5 Networks in a research report on Wednesday, January 16th. Finally, Piper Jaffray Companies reiterated an underweight rating and issued a $157.00 target price on shares of F5 Networks in a research report on Thursday, January 24th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $169.05.
FFIV opened at $153.18 on Tuesday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.92 and a beta of 0.94. F5 Networks has a 52-week low of $138.67 and a 52-week high of $199.71.
F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings data on Wednesday, January 23rd. The network technology company reported $2.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.17. The business had revenue of $543.80 million for the quarter, compared to the consensus estimate of $547.39 million. F5 Networks had a net margin of 22.74% and a return on equity of 40.12%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.26 earnings per share. As a group, equities research analysts predict that F5 Networks will post 8.62 EPS for the current year.
In related news, CEO Francois Locoh-Donou sold 4,036 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $159.50, for a total transaction of $643,742.00. Following the completion of the sale, the chief executive officer now directly owns 29,639 shares in the company, valued at $4,727,420.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ryan C. Kearny sold 1,136 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $160.83, for a total transaction of $182,702.88. Following the sale, the senior vice president now owns 7,333 shares of the company’s stock, valued at $1,179,366.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,469 shares of company stock valued at $2,339,402. 0.22% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Intercontinental Wealth Advisors LLC purchased a new position in F5 Networks during the fourth quarter worth about $25,000. Lindbrook Capital LLC purchased a new position in F5 Networks during the fourth quarter worth about $26,000. Rational Advisors LLC boosted its stake in F5 Networks by 2,009.1% during the fourth quarter. Rational Advisors LLC now owns 232 shares of the network technology company’s stock worth $38,000 after buying an additional 221 shares during the period. Arrow Financial Corp purchased a new position in F5 Networks during the fourth quarter worth about $45,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in F5 Networks during the fourth quarter worth about $48,000. 97.15% of the stock is owned by institutional investors.
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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