F5 (NASDAQ:FFIV) Price Target Cut to $240.00 by Analysts at Bank of America

F5 (NASDAQ:FFIVGet Rating) had its price target lowered by Bank of America from $265.00 to $240.00 in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage presently has a “buy” rating on the network technology company’s stock. Bank of America‘s target price would indicate a potential upside of 23.77% from the stock’s previous close.

A number of other research firms also recently issued reports on FFIV. Piper Sandler dropped their target price on shares of F5 from $227.00 to $197.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays dropped their target price on shares of F5 from $234.00 to $232.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 26th. Needham & Company LLC boosted their target price on shares of F5 from $265.00 to $303.00 and gave the company a “buy” rating in a research report on Tuesday, December 28th. William Blair reiterated a “market perform” rating on shares of F5 in a research report on Tuesday, January 25th. Finally, Royal Bank of Canada dropped their target price on shares of F5 from $210.00 to $200.00 and set a “sector perform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, F5 presently has a consensus rating of “Buy” and a consensus target price of $231.79.

Shares of NASDAQ FFIV opened at $193.91 on Wednesday. The company has a market capitalization of $11.78 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. F5 has a 52-week low of $174.34 and a 52-week high of $249.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.18. The company’s 50 day moving average price is $203.12 and its 200-day moving average price is $215.57.

F5 (NASDAQ:FFIVGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The network technology company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.12. The firm had revenue of $634.22 million for the quarter, compared to the consensus estimate of $634.20 million. F5 had a net margin of 12.65% and a return on equity of 22.00%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 EPS. Analysts forecast that F5 will post 7.1 earnings per share for the current year.

In other F5 news, EVP Ana Maria White sold 169 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $198.95, for a total transaction of $33,622.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $198.17, for a total transaction of $99,085.00. Following the sale, the chief financial officer now directly owns 16,389 shares in the company, valued at $3,247,808.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,529 shares of company stock valued at $2,916,796. Company insiders own 0.46% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CastleArk Alternatives LLC purchased a new stake in F5 during the third quarter valued at about $28,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of F5 in the third quarter worth about $40,000. NuWave Investment Management LLC purchased a new stake in shares of F5 in the first quarter worth about $41,000. Mystic Asset Management Inc. purchased a new stake in shares of F5 in the fourth quarter worth about $88,000. Finally, Capital Analysts LLC lifted its holdings in shares of F5 by 35.3% in the third quarter. Capital Analysts LLC now owns 479 shares of the network technology company’s stock worth $95,000 after buying an additional 125 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About F5 (Get Rating)

F5, Inc provides multi-cloud application security and delivery solutions for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application security and delivery solutions enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.

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