F5 (NASDAQ:FFIV) Releases FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 12.520-12.750 for the period, compared to the consensus estimate of 12.060. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. F5 also updated its FY24 guidance to $12.52-$12.75 EPS.

F5 Stock Performance

Shares of F5 stock traded down $14.60 during midday trading on Tuesday, hitting $167.53. The company had a trading volume of 826,921 shares, compared to its average volume of 447,819. The stock has a market capitalization of $9.85 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.68 and a beta of 1.11. The company has a 50 day moving average of $187.66 and a 200 day moving average of $176.72. F5 has a 52-week low of $129.93 and a 52-week high of $199.49.

F5 (NASDAQ:FFIV) last posted its earnings results on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. F5 had a return on equity of 20.81% and a net margin of 16.43%. The business had revenue of $681.00 million during the quarter, compared to analyst estimates of $685.47 million. During the same quarter last year, the company earned $1.70 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that F5 will post 9.59 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FFIV shares. Evercore ISI dropped their target price on shares of F5 from $200.00 to $180.00 and set an in-line rating on the stock in a report on Tuesday. Piper Sandler reaffirmed a neutral rating and issued a $167.00 price objective (down previously from $187.00) on shares of F5 in a report on Tuesday. Royal Bank of Canada lowered their target price on F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on F5 from $197.00 to $205.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Finally, Barclays lowered their price objective on shares of F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $185.10.

Insider Buying and Selling at F5

In other news, EVP Thomas Dean Fountain sold 851 shares of F5 stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $183.06, for a total value of $155,784.06. Following the sale, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $189.12, for a total value of $94,560.00. Following the completion of the transaction, the chief financial officer now directly owns 31,790 shares of the company’s stock, valued at approximately $6,012,124.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas Dean Fountain sold 851 shares of the 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 sale, the executive vice president now directly owns 15,008 shares of the company’s stock, valued at $2,747,364.48. The disclosure for this sale can be found here. Insiders have sold a total of 10,201 shares of company stock valued at $1,908,065 over the last ninety days. 0.58% of the stock is currently owned by company 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.