Today: Today, The Zacks Investment Research Downgrade F5 Networks Inc. (FFIV) to Hold

Today, The Zacks Investment Research Downgrade F5 Networks Inc. (FFIV) to Hold

F5 Networks Inc. (NASDAQ:FFIV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “F5 Networks Inc. is a leading provider of integrated Internet traffic and content management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. The company’s products monitor and manage local and geographically dispersed servers and intelligently direct traffic to the server best able to handle a user’s request. The products are designed to help prevent system failure and provide timely responses to user requests and data flow. “

A number of other brokerages also recently commented on FFIV. Drexel Hamilton restated a “buy” rating and issued a $160.00 target price on shares of F5 Networks in a research note on Friday, November 18th. BMO Capital Markets restated a “hold” rating on shares of F5 Networks in a research note on Friday, November 18th. Credit Suisse Group AG set a $134.00 target price on F5 Networks and gave the company a “hold” rating in a research note on Friday, November 18th. Jefferies Group lifted their target price on F5 Networks to $130.00 in a research note on Monday, November 21st. Finally, Oppenheimer Holdings Inc. set a $157.00 price target on F5 Networks and gave the company a “buy” rating in a report on Saturday, November 19th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and sixteen have given a buy rating to the stock. F5 Networks has an average rating of “Hold” and an average target price of $121.32.

F5 Networks (NASDAQ:FFIV) traded down 1.05% during midday trading on Monday, hitting $142.61. The company had a trading volume of 385,235 shares. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 26.51 and a beta of 1.38. F5 Networks has a 12-month low of $86.03 and a 12-month high of $144.28. The company’s 50 day moving average is $131.93 and its 200 day moving average is $122.12.

F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, October 26th. The network technology company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.17. F5 Networks had a return on equity of 31.79% and a net margin of 18.34%. The company earned $525.30 million during the quarter, compared to the consensus estimate of $520.45 million. During the same period in the previous year, the firm posted $1.84 earnings per share. F5 Networks’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that F5 Networks will post $8.26 EPS for the current fiscal year.

In other news, CFO Andrew Reinland sold 2,737 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $136.98, for a total transaction of $374,914.26. Following the transaction, the chief financial officer now directly owns 17,774 shares in the company, valued at $2,434,682.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scot Frazier Rogers sold 1,660 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $136.98, for a total transaction of $227,386.80. Following the transaction, the executive vice president now owns 7,350 shares in the company, valued at $1,006,803. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in FFIV. Piedmont Investment Advisors LLC bought a new position in shares of F5 Networks during the third quarter worth about $825,000. Cornerstone Capital Management Holdings LLC. raised its position in shares of F5 Networks by 71.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 204,983 shares of the network technology company’s stock worth $25,548,000 after buying an additional 85,749 shares during the last quarter. Credit Suisse AG raised its position in shares of F5 Networks by 13.8% in the third quarter. Credit Suisse AG now owns 156,947 shares of the network technology company’s stock worth $19,562,000 after buying an additional 19,016 shares during the last quarter. Cognios Capital LLC raised its position in shares of F5 Networks by 10.7% in the third quarter. Cognios Capital LLC now owns 109,292 shares of the network technology company’s stock worth $13,621,000 after buying an additional 10,569 shares during the last quarter. Finally, Dai Ichi Life Holdings Inc. raised its position in shares of F5 Networks by 66.4% in the third quarter. Dai Ichi Life Holdings Inc. now owns 48,882 shares of the network technology company’s stock worth $6,093,000 after buying an additional 19,511 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

About F5 Networks

F5 Networks, Inc is the developer and provider of application delivery services. The Company’s core technology is a full-proxy, programmable, software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud, data center, and software-defined networking deployments to successfully deliver applications to anyone, anywhere, at any time.

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