F5 (NASDAQ:FFIV) Posts Earnings Results, Beats Expectations By $0.03 EPS

F5 (NASDAQ:FFIV) issued its quarterly earnings data on Monday. The network technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03, RTT News reports. F5 had a net margin of 16.43% and a return on equity of 20.81%. The business had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $685.47 million. During the same quarter last year, the company earned $1.70 EPS. The business’s revenue was down 3.1% on a year-over-year basis. F5 updated its Q3 guidance to $2.89-$3.01 EPS and its FY24 guidance to $12.52-$12.75 EPS.

F5 Trading Up 0.1 %

FFIV traded up $0.19 on Monday, hitting $182.13. 962,925 shares of the company’s stock were exchanged, compared to its average volume of 441,814. The firm has a 50-day moving average price of $187.66 and a 200-day moving average price of $176.53. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a fifty-two week low of $129.93 and a fifty-two week high of $199.49.

Analyst Upgrades and Downgrades

FFIV has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of F5 from $170.00 to $187.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group lifted their price target on shares of F5 from $156.00 to $179.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of F5 from $197.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of F5 in a research note on Tuesday, February 13th. Finally, Barclays lifted their price target on shares of F5 from $163.00 to $206.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have given 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 has a consensus rating of “Hold” and an average price target of $192.22.

Insider Activity

In other news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $183.06, for a total transaction of $155,784.06. Following the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Thomas Dean Fountain sold 851 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $183.06, for a total transaction of $155,784.06. Following the transaction, the executive vice president now owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total transaction of $91,155.00. Following the transaction, the chief financial officer now directly owns 32,290 shares in the company, valued at approximately $5,886,789.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,201 shares of company stock valued at $1,908,065. 0.58% of the stock is currently owned by insiders.

About F5

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.