F5 Networks, Inc. (FFIV) Expected to Post Quarterly Sales of $528.98 Million

Wall Street analysts expect F5 Networks, Inc. (NASDAQ:FFIV) to report $528.98 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for F5 Networks’ earnings, with estimates ranging from $522.40 million to $532.40 million. F5 Networks posted sales of $518.25 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 25th.

On average, analysts expect that F5 Networks will report full-year sales of $528.98 million for the current fiscal year, with estimates ranging from $2.12 billion to $2.16 billion. For the next year, analysts expect that the company will report sales of $2.20 billion per share, with estimates ranging from $2.14 billion to $2.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow F5 Networks.

F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, January 24th. The network technology company reported $2.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.21. F5 Networks had a net margin of 19.79% and a return on equity of 35.98%. The company had revenue of $523.20 million during the quarter, compared to the consensus estimate of $521.07 million. During the same period last year, the firm earned $1.98 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis.

A number of equities research analysts have recently issued reports on FFIV shares. KeyCorp reiterated a “hold” rating on shares of F5 Networks in a research report on Wednesday, October 11th. Zacks Investment Research cut shares of F5 Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Nomura dropped their price objective on shares of F5 Networks from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 16th. Oppenheimer reissued a “hold” rating on shares of F5 Networks in a research note on Thursday, January 25th. Finally, Cowen reissued a “buy” rating and set a $140.00 price objective on shares of F5 Networks in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $140.05.

Shares of F5 Networks (NASDAQ:FFIV) opened at $144.13 on Friday. F5 Networks has a 12-month low of $114.63 and a 12-month high of $149.50. The stock has a market cap of $8,969.27, a P/E ratio of 22.17, a PEG ratio of 2.21 and a beta of 1.08.

F5 Networks announced that its board has approved a stock buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other F5 Networks news, COO Edward Julian Eames sold 15,489 shares of F5 Networks stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $120.84, for a total value of $1,871,690.76. Following the completion of the sale, the chief operating officer now directly owns 21,587 shares of the company’s stock, valued at approximately $2,608,573.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. grew its stake in F5 Networks by 23.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 860 shares of the network technology company’s stock worth $110,000 after acquiring an additional 161 shares during the period. Zions Bancorporation grew its stake in F5 Networks by 16,733.3% in the 3rd quarter. Zions Bancorporation now owns 1,010 shares of the network technology company’s stock worth $122,000 after acquiring an additional 1,004 shares during the period. Cadence Capital Management LLC purchased a new stake in F5 Networks in the 3rd quarter worth approximately $241,000. Moloney Securities Asset Management LLC purchased a new stake in F5 Networks in the 3rd quarter worth approximately $249,000. Finally, Profund Advisors LLC grew its stake in F5 Networks by 16.6% in the 2nd quarter. Profund Advisors LLC now owns 2,175 shares of the network technology company’s stock worth $276,000 after acquiring an additional 310 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

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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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