In a report released yesterday, George Iwanyc from Oppenheimer maintained a Hold rating on F5 Networks (FFIV). The company’s shares closed yesterday at $159.64.
Iwanyc wrote:
“F5 reported mixed FY1Q19 results as sales missed Street expectations due to weak service provider spending, while strong margins helped lift EPS. The SP softness is extending into 2Q, which is leading management to temper near-term expectations modestly. The top line could see additional pressure if the US of sales) shutdown extends into Feb. and if macro uncertainties start to weigh on enterprise activity. That said, we believe F5’s long-term prospects are unchanged, seeing positives in its overall execution (product development, sales execution/ priorities, Services initiatives…) and continued solid pipeline growth for its new ELA and virtual subscription models. We’re comfortable with our Perform rating given the near-term macro/SP/Gov’t uncertainties, though are growing more constructive long term given the steady product execution and strategic direction.”
According to TipRanks.com, Iwanyc is a 2-star analyst with an average return of 0.9% and a 38.9% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
F5 Networks has an analyst consensus of Moderate Buy, with a price target consensus of $193.60, a 21.3% upside from current levels. In a report issued on January 17, William Blair also downgraded the stock to Hold.
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Based on F5 Networks’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $133 million. In comparison, last year the company had a net profit of $88.43 million.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock.
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F5 Networks, Inc. engages development and provision 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.
