BMO Capital Raises Price Target on F5 Networks, Inc. (FFIV) to $125 Following 3Q Beat

BMO Capital analyst, Tim Long, reiterates a Market Perform rating on F5 Networks, Inc. (NASDAQ:FFIV), and bumps the company’s price target to $125.00, following the company’s 3Q earnings release.


FFIV reported revenues of $497 million, which were in line with consensus estimates of $496 million. EPS also came in above estimates of $1.81.

Long provides, “While the quarter was generally solid, product sales remained weak and were slightly below our expectations, though sales should improve as the refresh gains traction over the next few quarters. Strength in APAC and Japan were offset by weakness in the Americas related to softer carrier spending and weaker demand in EMEA, particularly in the U.K. Mix helped drive some gross margin upside and operating margins were better, benefitting from lower opex as management hired less than expected in the quarter.” 

The analyst increases his FY2016 pro forma EPS to $7.15 from $7.09 in order to reflect the EPS upside in quarterly guidance. For FY17, the analyst increases his EPS estimates to $8.10 from $8.03.

According to TipRanks, Tim Long is ranked #720 of 4,073 analysts. He maintains a success rate of 57% an an average return of 5.2%.

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