The analysts wrote, “F5’s stock has pulled back over 18% since February and is now trading at valuation levels we see as attractive. We keep our $110 price target (19.5x our FY14 EPS of $5.64, Street = $5.82) and suggest restricting purchases to <$89. At current levels, F5 trades at 15.5x our FY14 forecast (12.6x on an ex-cash basis). New product offerings in adjacent areas (security) and deeper focus on the telecom vertical will significantly increase F5’s addressable market to ~$20 billion by 2016 (from ~$5 billion in 2012). Meanwhile, F5 continues to enjoy leadership position (48% market share) in its core application delivery controller (ADC) segment and Cisco’s exit from this market opens up an added $200 million per year in revenue opportunity. F5 won three Cisco-replacement deals in Q1 from Fortune 50 customers―validating F5’s technology leadership position.”
FFIV has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of F5 Networks in a research note to investors on Monday. Separately, analysts at TheStreet reiterated a “buy” rating on shares of F5 Networks in a research note to investors on Wednesday, February 6th. Finally, analysts at FBN Securities reiterated a “sector perform” rating on shares of F5 Networks in a research note to investors on Friday, January 25th. They now have a $110.00 price target on the stock, up previously from $100.00.
Fourteen research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $117.73.
Shares of F5 Networks (NASDAQ: FFIV) traded up 0.38% during mid-day trading on Wednesday, hitting $87.905. F5 Networks has a one year low of $81.07 and a one year high of $139.46. The stock’s 50-day moving average is currently $96.12. The company has a market cap of $6.908 billion and a P/E ratio of 25.02.
F5 Networks (NASDAQ: FFIV) last announced its earnings results on Wednesday, January 23rd. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.15 by $0.01. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $366.74 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. F5 Networks has set its Q2 guidance at $1.21-1.24 EPS. On average, analysts predict that F5 Networks will post $5.01 earnings per share for the current fiscal year.
F5 Networks, Inc. is a provider of Application Delivery Networking (NASDAQ: FFIV) technology that secures and optimizes the delivery of network-based applications and the security, performance and availability of servers, and other network resources.