F5 (NASDAQ:FFIV) Releases Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.890-3.010 for the period, compared to the consensus estimate of 3.090. The company issued revenue guidance of $675.0 million-$695.0 million, compared to the consensus revenue estimate of $694.8 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

F5 Stock Up 0.1 %

Shares of FFIV traded up $0.19 during midday trading on Monday, hitting $182.13. The company had a trading volume of 1,030,164 shares, compared to its average volume of 443,347. F5 has a 52 week low of $129.93 and a 52 week high of $199.49. The company’s 50 day moving average price is $187.66 and its 200 day moving average price is $176.53. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.68 and a beta of 1.11.

F5 (NASDAQ:FFIV) last released its 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. The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. F5’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 EPS. Equities analysts anticipate that F5 will post 9.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FFIV shares. Needham & Company LLC reaffirmed a buy rating and issued a $220.00 price target on shares of F5 in a report on Tuesday, February 13th. Royal Bank of Canada restated a sector perform rating and set a $204.00 price objective on shares of F5 in a research report on Friday, February 9th. The Goldman Sachs Group raised their target price on F5 from $156.00 to $179.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Piper Sandler increased their price objective on shares of F5 from $170.00 to $187.00 and gave the stock a neutral rating in a report on Tuesday, January 30th. Finally, KeyCorp boosted their target price 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $192.22.

Insider Activity at F5

In other F5 news, EVP Thomas Dean Fountain sold 851 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the sale, the executive vice president now directly owns 15,008 shares in the company, valued at $2,747,364.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thomas Dean Fountain sold 851 shares of F5 stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $183.06, for a total value of $155,784.06. Following the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $178.81, for a total transaction of $89,405.00. Following the sale, the chief financial officer now directly owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The disclosure for this sale can be found here. Insiders have sold 10,201 shares of company stock worth $1,908,065 over the last quarter. 0.58% of the stock is currently owned by company insiders.

F5 Company Profile

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.