Wall Street analysts predict that F5 Networks, Inc. (NASDAQ:FFIV) will report $525.25 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for F5 Networks’ earnings, with estimates ranging from $523.17 million to $527.20 million. F5 Networks reported sales of $496.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The company is expected to issue its next earnings report after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that F5 Networks will report full-year sales of $525.25 million for the current year, with estimates ranging from $2.02 billion to $2.12 billion. For the next financial year, analysts expect that the firm will report sales of $2.22 billion per share, with estimates ranging from $2.14 billion to $2.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover F5 Networks.
F5 Networks (NASDAQ:FFIV) last issued its earnings results on Wednesday, April 26th. The network technology company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by $0.06. F5 Networks had a return on equity of 33.53% and a net margin of 18.88%. The firm had revenue of $518.20 million during the quarter, compared to the consensus estimate of $523.12 million. During the same quarter in the prior year, the business posted $1.68 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. set a $157.00 target price on F5 Networks and gave the company a “buy” rating in a research report on Saturday, April 8th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 target price on shares of F5 Networks in a research report on Friday, June 16th. Cowen and Company reissued an “outperform” rating and set a $145.00 target price on shares of F5 Networks in a research report on Monday, June 5th. Royal Bank Of Canada cut their target price on F5 Networks from $137.00 to $132.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 27th. Finally, Drexel Hamilton reissued a “buy” rating and set a $165.00 target price on shares of F5 Networks in a research report on Monday, April 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $136.65.
In other F5 Networks news, EVP Ryan C. Kearny sold 846 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $127.95, for a total value of $108,245.70. Following the completion of the sale, the executive vice president now directly owns 1,071 shares in the company, valued at $137,034.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Mcadam sold 10,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $130.17, for a total value of $1,301,700.00. Following the completion of the sale, the director now owns 66,953 shares of the company’s stock, valued at $8,715,272.01. The disclosure for this sale can be found here. Insiders have sold a total of 25,146 shares of company stock valued at $3,234,190 over the last 90 days. 0.26% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in F5 Networks by 2,108.1% in the first quarter. BlackRock Inc. now owns 4,404,873 shares of the network technology company’s stock worth $628,003,000 after buying an additional 4,205,384 shares during the period. Morgan Stanley boosted its stake in F5 Networks by 171.1% in the first quarter. Morgan Stanley now owns 829,117 shares of the network technology company’s stock worth $118,207,000 after buying an additional 523,250 shares during the period. Bank of Montreal Can boosted its stake in F5 Networks by 36.8% in the first quarter. Bank of Montreal Can now owns 1,745,173 shares of the network technology company’s stock worth $248,809,000 after buying an additional 469,449 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in F5 Networks by 3,947.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 366,821 shares of the network technology company’s stock worth $52,298,000 after buying an additional 357,758 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in F5 Networks by 30.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 933,496 shares of the network technology company’s stock worth $133,088,000 after buying an additional 216,959 shares during the period. Institutional investors own 95.86% of the company’s stock.
Shares of F5 Networks (NASDAQ:FFIV) traded up 0.04% on Friday, hitting $126.63. 568,887 shares of the stock traded hands. The firm has a market cap of $8.19 billion, a PE ratio of 21.61 and a beta of 1.17. The firm has a 50 day moving average price of $128.85 and a 200 day moving average price of $137.65. F5 Networks has a 52-week low of $114.45 and a 52-week high of $149.50.
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About F5 Networks
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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