F5 (NASDAQ:FFIV - Free Report) had its target price upped by Barclays from $246.00 to $296.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the network technology company's stock.
A number of other brokerages also recently commented on FFIV. Royal Bank of Canada lifted their target price on shares of F5 from $240.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on F5 from $186.00 to $246.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on shares of F5 from $262.00 to $310.00 and gave the company an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of F5 from $225.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised F5 from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, F5 currently has a consensus rating of "Hold" and a consensus target price of $299.38.
Get Our Latest Stock Analysis on FFIV
F5 Stock Performance
Shares of NASDAQ:FFIV traded up $4.66 during trading on Wednesday, reaching $305.12. The stock had a trading volume of 260,218 shares, compared to its average volume of 619,953. The business has a fifty day moving average price of $258.11 and a 200-day moving average price of $226.55. F5 has a 1-year low of $159.01 and a 1-year high of $308.00. The stock has a market cap of $17.70 billion, a PE ratio of 32.03, a PEG ratio of 3.68 and a beta of 1.06.
F5 (NASDAQ:FFIV - Get Free Report) last issued its earnings results on Monday, October 28th. The network technology company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.45 by $0.22. The business had revenue of $747.00 million during the quarter, compared to analysts' expectations of $730.43 million. F5 had a net margin of 20.13% and a return on equity of 20.80%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. Sell-side analysts expect that F5 will post 11.01 earnings per share for the current year.
F5 declared that its Board of Directors has approved a stock buyback plan on Monday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the network technology company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.
Insider Transactions at F5
In other F5 news, Director Alan Higginson sold 825 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $239.77, for a total transaction of $197,810.25. Following the transaction, the director now directly owns 9,882 shares of the company's stock, valued at approximately $2,369,407.14. This trade represents a 7.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.58% of the company's stock.
Hedge Funds Weigh In On F5
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chase Investment Counsel Corp acquired a new position in shares of F5 during the third quarter worth about $4,726,000. JPMorgan Chase & Co. lifted its holdings in shares of F5 by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,130 shares of the network technology company's stock valued at $90,090,000 after buying an additional 81,005 shares during the period. New York State Common Retirement Fund boosted its stake in shares of F5 by 14.3% in the third quarter. New York State Common Retirement Fund now owns 70,536 shares of the network technology company's stock valued at $15,532,000 after buying an additional 8,800 shares in the last quarter. GAMMA Investing LLC grew its holdings in F5 by 36.3% during the fourth quarter. GAMMA Investing LLC now owns 2,144 shares of the network technology company's stock worth $539,000 after acquiring an additional 571 shares during the period. Finally, Addenda Capital Inc. raised its position in F5 by 43.5% in the fourth quarter. Addenda Capital Inc. now owns 50,314 shares of the network technology company's stock worth $12,652,000 after acquiring an additional 15,240 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company's stock.
F5 Company Profile
(
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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.
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