F5 Networks (NASDAQ:FFIV) Coverage Initiated at Barclays

Analysts at Barclays initiated coverage on shares of F5 Networks (NASDAQ:FFIV) in a report released on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the network technology company’s stock.

FFIV has been the topic of a number of other reports. Credit Suisse Group lifted their price target on F5 Networks from $188.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Goldman Sachs Group downgraded F5 Networks from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $165.00 to $120.00 in a research report on Monday, July 8th. Zacks Investment Research downgraded F5 Networks from a “hold” rating to a “sell” rating and set a $162.00 price objective on the stock. in a research report on Monday, July 29th. BidaskClub downgraded F5 Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, ValuEngine upgraded F5 Networks from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $167.24.

Shares of NASDAQ:FFIV traded down $2.12 during trading on Wednesday, reaching $134.00. The stock had a trading volume of 623,019 shares, compared to its average volume of 699,738. The stock has a fifty day moving average of $145.19. The company has a market cap of $8.30 billion, a PE ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.05. F5 Networks has a 1-year low of $131.32 and a 1-year high of $199.71.

F5 Networks (NASDAQ:FFIV) last issued its quarterly earnings results on Wednesday, July 24th. The network technology company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.06). The firm had revenue of $563.39 million during the quarter, compared to analyst estimates of $556.15 million. F5 Networks had a return on equity of 36.33% and a net margin of 21.03%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 earnings per share. On average, equities analysts anticipate that F5 Networks will post 8.22 earnings per share for the current year.

In other F5 Networks news, CEO Francois Locoh-Donou sold 4,037 shares of F5 Networks stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $142.72, for a total value of $576,160.64. Following the sale, the chief executive officer now owns 38,113 shares in the company, valued at $5,439,487.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Mcmillan sold 1,972 shares of F5 Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $147.16, for a total value of $290,199.52. Following the completion of the sale, the executive vice president now owns 5,455 shares in the company, valued at approximately $802,757.80. The disclosure for this sale can be found here. Insiders sold 10,527 shares of company stock worth $1,505,578 in the last 90 days. Company insiders own 0.22% of the company’s stock.

A number of large investors have recently bought and sold shares of FFIV. LS Investment Advisors LLC raised its holdings in shares of F5 Networks by 4.0% in the 2nd quarter. LS Investment Advisors LLC now owns 2,498 shares of the network technology company’s stock valued at $364,000 after buying an additional 96 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of F5 Networks in the 2nd quarter valued at $2,727,000. Palladium Partners LLC purchased a new stake in shares of F5 Networks in the 2nd quarter valued at $6,433,000. Washington Capital Management Inc. raised its holdings in shares of F5 Networks by 33.3% in the 2nd quarter. Washington Capital Management Inc. now owns 3,000 shares of the network technology company’s stock valued at $437,000 after buying an additional 750 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of F5 Networks by 28.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 335,603 shares of the network technology company’s stock valued at $48,010,000 after buying an additional 73,385 shares during the period. Institutional investors own 99.31% of the company’s stock.

F5 Networks Company Profile

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.

See Also: How are Outstanding Shares Different from Authorized Shares?

The Fly

Analyst Recommendations for F5 Networks (NASDAQ:FFIV)

Receive News & Ratings for F5 Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for F5 Networks and related companies with MarketBeat.com's FREE daily email newsletter.