F5 (NASDAQ:FFIV) Updates Q3 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.89-$3.01 for the period, compared to the consensus earnings per share estimate of $3.09. The company issued revenue guidance of $675-$695 million, compared to the consensus revenue estimate of $695.85 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. Piper Sandler raised their target price on shares of F5 from $170.00 to $187.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. The Goldman Sachs Group raised their target price on shares of F5 from $156.00 to $179.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Needham & Company LLC reaffirmed a buy rating and issued a $220.00 target price on shares of F5 in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of F5 from $197.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $192.22.

F5 Stock Up 0.1 %

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

F5 (NASDAQ:FFIV) last released its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.03. The business had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 EPS. As a group, analysts expect that F5 will post 9.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the sale, the chief financial officer now directly owns 31,290 shares in the company, valued at $5,594,964.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Thomas Dean Fountain sold 851 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $183.06, for a total transaction of $155,784.06. Following the transaction, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the sale, the chief financial officer now directly owns 31,290 shares of the company’s stock, valued at approximately $5,594,964.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,201 shares of company stock valued at $1,908,065. 0.58% of the stock is owned by insiders.

About F5

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.