F5 Networks, Inc. (NASDAQ:FFIV) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.20-2.23 for the period, compared to the Thomson Reuters consensus estimate of $2.23. The company issued revenue guidance of $530-540 million, compared to the consensus revenue estimate of $551.46 million.
Shares of F5 Networks, Inc. (FFIV) traded down 7.16% during trading on Thursday, hitting $119.02. The stock had a trading volume of 3,845,933 shares. The stock has a market cap of $7.70 billion, a P/E ratio of 20.31 and a beta of 1.17. The stock’s 50 day moving average price is $128.29 and its 200-day moving average price is $135.41. F5 Networks, Inc. has a one year low of $114.45 and a one year high of $149.50.
F5 Networks (NASDAQ:FFIV) last announced its quarterly earnings data on Wednesday, July 26th. The network technology company reported $2.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.03. F5 Networks had a net margin of 18.88% and a return on equity of 33.53%. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $525.57 million. During the same period last year, the business earned $1.81 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Analysts expect that F5 Networks, Inc. will post $8.20 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on FFIV. CIBC restated a market perform rating on shares of F5 Networks in a report on Thursday. Oppenheimer Holdings, Inc. lowered shares of F5 Networks from an outperform rating to a market perform rating and cut their price target for the stock from $145.00 to $120.00 in a research note on Thursday. Wells Fargo & Company lowered shares of F5 Networks from an outperform rating to a market perform rating and set a $120.00 price target on the stock. in a research note on Thursday. Citigroup Inc. lowered shares of F5 Networks to a market perform rating in a research note on Thursday. Finally, Piper Jaffray Companies cut their price target on shares of F5 Networks to $121.00 and set a neutral rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. F5 Networks currently has an average rating of Hold and an average price target of $133.00.
In other news, EVP Ryan C. Kearny sold 846 shares of F5 Networks stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $127.95, for a total value of $108,245.70. Following the sale, the executive vice president now owns 1,071 shares of the company’s stock, valued at $137,034.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John D. Dilullo sold 3,420 shares of F5 Networks stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $127.62, for a total transaction of $436,460.40. Following the completion of the sale, the executive vice president now directly owns 4,926 shares in the company, valued at approximately $628,656.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,146 shares of company stock worth $3,234,190. Insiders own 0.26% of the company’s stock.
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F5 Networks Company Profile
F5 Networks, Inc is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems.
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