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F5 (NASDAQ:FFIV) Given New $345.00 Price Target at Needham & Company LLC

F5 logo with Computer and Technology background

Key Points

  • Needham & Company LLC raised its target price for F5 (NASDAQ:FFIV) from $320.00 to $345.00, suggesting an upside of 8.10% from the company's previous close.
  • F5's recent earnings report revealed $4.16 earnings per share, significantly beating expectations and showing a 12.2% increase in revenue year over year.
  • Institutional investors, such as Asset Management One Co. Ltd. and DekaBank Deutsche Girozentrale, have increased their stakes in F5, indicating a strong interest from hedge funds and institutional investors.
  • Interested in F5? Here are five stocks we like better.

F5 (NASDAQ:FFIV - Free Report) had its target price boosted by Needham & Company LLC from $320.00 to $345.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the network technology company's stock.

FFIV has been the topic of a number of other reports. Wolfe Research began coverage on shares of F5 in a report on Monday, July 7th. They issued an "outperform" rating on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and set a $290.00 target price on shares of F5 in a research note on Tuesday, April 29th. JPMorgan Chase & Co. increased their price target on F5 from $285.00 to $305.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating and issued a $304.00 price objective (up from $269.00) on shares of F5 in a report on Monday, July 14th. Finally, Morgan Stanley lifted their target price on shares of F5 from $280.00 to $305.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.89.

View Our Latest Stock Report on FFIV

F5 Stock Down 1.9%

Shares of FFIV stock traded down $5.99 during trading on Thursday, reaching $307.43. The company's stock had a trading volume of 790,548 shares, compared to its average volume of 494,142. F5 has a one year low of $184.80 and a one year high of $334.00. The business has a fifty day moving average price of $294.53 and a 200-day moving average price of $282.54. The company has a market cap of $17.66 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 3.88 and a beta of 1.03.

F5 (NASDAQ:FFIV - Get Free Report) last released its earnings results on Wednesday, July 30th. The network technology company reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.49 by $0.67. The business had revenue of $780.37 million for the quarter, compared to the consensus estimate of $750.64 million. F5 had a return on equity of 21.77% and a net margin of 22.06%. F5's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.36 earnings per share. Research analysts anticipate that F5 will post 11.2 EPS for the current year.

Insider Buying and Selling

In other news, Director Alan Higginson sold 1,272 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $286.69, for a total value of $364,669.68. Following the completion of the transaction, the director directly owned 9,919 shares in the company, valued at approximately $2,843,678.11. The trade was a 11.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francois Locoh-Donou sold 1,300 shares of F5 stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $294.32, for a total transaction of $382,616.00. Following the completion of the transaction, the chief executive officer directly owned 107,100 shares in the company, valued at $31,521,672. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,872 shares of company stock worth $1,702,309 in the last quarter. Insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On F5

A number of large investors have recently modified their holdings of FFIV. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of F5 by 6.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,387,700 shares of the network technology company's stock valued at $1,434,583,000 after purchasing an additional 312,415 shares in the last quarter. Geode Capital Management LLC lifted its stake in F5 by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,604,362 shares of the network technology company's stock valued at $402,536,000 after purchasing an additional 30,367 shares during the last quarter. First Trust Advisors LP grew its position in F5 by 3.1% during the 4th quarter. First Trust Advisors LP now owns 1,259,848 shares of the network technology company's stock worth $316,814,000 after acquiring an additional 37,354 shares during the last quarter. Northern Trust Corp increased its holdings in F5 by 15.5% in the 1st quarter. Northern Trust Corp now owns 1,054,701 shares of the network technology company's stock worth $280,835,000 after purchasing an additional 141,680 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of F5 by 24.0% during the first quarter. Acadian Asset Management LLC now owns 828,966 shares of the network technology company's stock worth $220,693,000 after purchasing an additional 160,708 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company's stock.

F5 Company Profile

(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.

See Also

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