In a research report issued today, Cantor analyst Brian White maintained a Buy rating on F5 Networks (NASDAQ:FFIV) as slightly reduced his price target to $140 (from $145), as the company reported mixed earnings results with a conservative outlook.

White commented: “The company placed the blame squarely on a decline in larger, product deals (i.e., over $1 million) in 1Q:FY15; however, F5 called out a strong pipeline of business. We believe F5 has fallen victim to inflated demand at the end of the September quarter as the company’s fiscal year came to a close and this negatively impacted sales in the December quarter.”

The analyst added, “Given this near-term dynamic, we are lowering our EPS estimates and adjusting our 12-month price target. At the same time, our confidence in the growth drivers we see ahead for the company remains unchanged, while we believe the after-hours impact on F5 is an extreme overreaction and reiterate our BUY rating.”

F5 Networks, Inc. develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems.