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Royal Bank of Canada Increases F5 (NASDAQ:FFIV) Price Target to $260.00

F5 logo with Computer and Technology background

F5 (NASDAQ:FFIV - Free Report) had its price target boosted by Royal Bank of Canada from $240.00 to $260.00 in a research note released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the network technology company's stock.

Other analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of F5 from $214.00 to $246.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. StockNews.com upgraded F5 from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Morgan Stanley upped their target price on F5 from $230.00 to $262.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price target on shares of F5 from $225.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Finally, Piper Sandler upped their price objective on shares of F5 from $186.00 to $246.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $239.33.

Get Our Latest Stock Report on F5

F5 Price Performance

Shares of NASDAQ:FFIV traded up $2.61 during trading on Friday, reaching $254.36. 410,833 shares of the company's stock traded hands, compared to its average volume of 410,117. The company has a 50 day moving average of $248.34 and a 200-day moving average of $214.41. F5 has a 12 month low of $159.01 and a 12 month high of $264.50. The stock has a market capitalization of $14.91 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06.

F5 (NASDAQ:FFIV - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The network technology company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.45 by $0.22. F5 had a return on equity of 20.80% and a net margin of 20.13%. The business had revenue of $747.00 million for the quarter, compared to analysts' expectations of $730.43 million. During the same period in the prior year, the firm earned $2.76 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that F5 will post 11.01 earnings per share for the current fiscal year.

F5 declared that its board has authorized a share buyback program on Monday, October 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the network technology company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at F5

In related news, CFO Francis J. Pelzer sold 600 shares of the business's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $217.67, for a total transaction of $130,602.00. Following the transaction, the chief financial officer now owns 29,825 shares of the company's stock, valued at approximately $6,492,007.75. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Higginson sold 825 shares of the 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On F5

A number of institutional investors have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in F5 in the 3rd quarter valued at $28,000. Quest Partners LLC boosted its position in shares of F5 by 9,100.0% during the 2nd quarter. Quest Partners LLC now owns 184 shares of the network technology company's stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of F5 during the 3rd quarter valued at about $32,000. Denver PWM LLC bought a new stake in F5 in the second quarter valued at about $56,000. Finally, Brown Financial Advisors bought a new position in F5 during the second quarter worth about $66,000. 90.66% of the stock is owned by institutional investors and hedge funds.

About F5

(Get Free Report)

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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