F5 Networks Receives a Buy from Credit Suisse

Credit Suisse analyst Sami Badri maintained a Buy rating on F5 Networks (NASDAQ: FFIV) today and set a price target of $188. The company’s shares closed yesterday at $181.99, close to its 52-week high of $183.27.

Badri said:

“We attended EQIX’s 2018 Analyst Day on June 20 th , 2018 and found numerous data points supporting our FFIV thesis: (1) EQIX’s customer survey showed that 63% of customers still recognize the need to solve for security in the hybrid IT world (using hardware security modules); (2) Hybrid cloud deployments continue to make up the majority of total cloud workloads at ~51%; and (3) In private cloud connectivity, multi-cloud models grew 429% from C1Q16 to C1Q18, 6x over single cloud models (69% growth), making FFIV’s ADC and security solutions a necessity for enterprises as application deployments across multiple clouds accelerate.”

According to TipRanks.com, Badri is a 1-star analyst with an average return of -4.6% and a 46.7% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.

Currently, the analyst consensus on F5 Networks is Moderate Buy and the average price target is $173.45, representing a -4.7% downside.

In a report issued on June 11, Merrill Lynch also maintained a Buy rating on the stock with a $200 price target.

See today’s analyst top recommended stocks >>

F5 Networks’ market cap is currently $11.12B and has a P/E ratio of 26.61. The company has a Price to Book ratio of 9.07.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.