Oppenheimer analyst George Iwanyc maintained a Hold rating on F5 Networks (FFIV) yesterday. The company’s shares closed yesterday at $164.25.
Iwanyc observed:
“F5 reported mixed FY2Q19 results, with revenues coming in below expectations due to soft service provider and mixed EMEA trends. Overall, while we’re positive on F5’s long-term software/subscription transition, we remain cautious near term and expect the transition to continue to weigh on results. Elongated deal times (associated with customer evaluations) and the nature of growing a yet-to-scale software portfolio (less upfront revenue, dilutive to near-term margins) are key downside risks to take into account especially as systems revenue is hard-pressed to grow. This, along with cautious service provider commentary and risks associated with the integration of NGINX, leaves us cautious near term. We are adjusting our estimates for results/ guidance. Maintain Perform rating.”
According to TipRanks.com, Iwanyc is a 4-star analyst with an average return of 10.7% and a 84.0% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
Currently, the analyst consensus on F5 Networks is a Hold with an average price target of $157.43.
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The company has a one-year high of $199.71 and a one-year low of $148.91. Currently, F5 Networks has an average volume of 633.2K.
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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.
