Needham Believes F5 Networks (FFIV) Won’t Stop Here
Needham analyst Alex Henderson assigned a Buy rating to F5 Networks (FFIV) today and set a price target of $210.00. The company’s shares closed last Tuesday at $164.84, close to its 52-week high of $166.67.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 20.8% and a 60.3% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
Currently, the analyst consensus on F5 Networks is a Moderate Buy with an average price target of $183.88, implying a 12.2% upside from current levels. In a report issued on November 16, J.P. Morgan also upgraded the stock to Buy with a $192.00 price target.
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Based on F5 Networks’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $615 million and net profit of $77.66 million. In comparison, last year the company earned revenue of $590 million and had a net profit of $94.84 million.
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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. The company was founded on February 26, 1996 and is headquartered in Seattle, WA.
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