Credit Suisse analyst Sami Badri reiterated a Buy rating on F5 Networks (NASDAQ: FFIV) today and set a price target of $188. The company’s shares closed yesterday at $176.75, close to its 52-week high of $183.27.
Badri commented:
“We believe current trading levels remain at a discount to FFIV’s intrinsic value given secular strength across multiple IT spend sub- segments (especially hybrid cloud exposure for equipment). Therefore, we remain bullish going into F3Q18 estimating product revenue growth of +4.3% y/y and -0.6% product revenue growth for FY18. As such, we reiterate our Outperform rating and $188 target price.”
According to TipRanks.com, Badri is a 1-star analyst with an average return of -2.0% and a 54.3% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.
The word on The Street in general, suggests a Hold analyst consensus rating for F5 Networks with a $176.80 average price target, implying a 0.0% upside from current levels. In a report issued on July 5, J.P. Morgan also reiterated a Buy rating on the stock with a $211 price target.
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Based on F5 Networks’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $110 million. In comparison, last year the company had a net profit of $97.66 million.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.
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F5 Networks, Inc. engages developing and providing of software defined application services. It offers the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.
