Piper Jaffray Companies Upgrades F5 Networks (FFIV) to Neutral

F5 Networks (NASDAQ:FFIV) was upgraded by investment analysts at Piper Jaffray Companies from an “underweight” rating to a “neutral” rating in a research note issued to investors on Friday, March 29th, Marketbeat Ratings reports. The brokerage currently has a $163.00 target price on the network technology company’s stock, up from their previous target price of $157.00. Piper Jaffray Companies’ price objective would indicate a potential downside of 0.24% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded F5 Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine downgraded F5 Networks from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Deutsche Bank decreased their target price on F5 Networks from $115.00 to $110.00 and set a “sell” rating for the company in a research note on Tuesday, March 12th. MKM Partners decreased their target price on F5 Networks to $175.00 and set a “neutral” rating for the company in a research note on Thursday, January 24th. Finally, Nomura reduced their price objective on F5 Networks to $155.00 and set a “neutral” rating for the company in a research report on Thursday, January 24th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $170.87.

Shares of NASDAQ FFIV traded down $1.05 during midday trading on Friday, reaching $163.40. 659,628 shares of the company’s stock were exchanged, compared to its average volume of 587,719. F5 Networks has a 52-week low of $148.90 and a 52-week high of $199.71. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.09 and a beta of 0.93.

F5 Networks (NASDAQ:FFIV) last announced its earnings results on Wednesday, January 23rd. The network technology company reported $2.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.17. The business had revenue of $543.80 million for the quarter, compared to analyst estimates of $547.39 million. F5 Networks had a return on equity of 40.12% and a net margin of 22.74%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.26 earnings per share. On average, research analysts expect that F5 Networks will post 8.64 EPS for the current fiscal year.

In other F5 Networks news, EVP Thomas Dean Fountain sold 545 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $171.60, for a total value of $93,522.00. Following the transaction, the executive vice president now owns 763 shares of the company’s stock, valued at $130,930.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Chad Michael Whalen sold 379 shares of F5 Networks stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $159.50, for a total transaction of $60,450.50. Following the transaction, the executive vice president now owns 6,318 shares in the company, valued at $1,007,721. The disclosure for this sale can be found here. Insiders sold 14,469 shares of company stock worth $2,339,402 in the last ninety days. 0.22% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FFIV. MML Investors Services LLC boosted its holdings in F5 Networks by 132.0% in the third quarter. MML Investors Services LLC now owns 2,928 shares of the network technology company’s stock worth $584,000 after purchasing an additional 1,666 shares in the last quarter. BlackRock Inc. boosted its holdings in F5 Networks by 1.7% in the third quarter. BlackRock Inc. now owns 5,156,859 shares of the network technology company’s stock worth $1,028,380,000 after purchasing an additional 85,994 shares in the last quarter. American International Group Inc. boosted its holdings in F5 Networks by 6.0% in the third quarter. American International Group Inc. now owns 21,879 shares of the network technology company’s stock worth $4,363,000 after purchasing an additional 1,230 shares in the last quarter. Korea Investment CORP boosted its holdings in F5 Networks by 32.7% in the third quarter. Korea Investment CORP now owns 83,610 shares of the network technology company’s stock worth $16,674,000 after purchasing an additional 20,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in F5 Networks by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 309,330 shares of the network technology company’s stock worth $61,680,000 after purchasing an additional 3,892 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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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Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

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