F5 (NASDAQ:FFIV) Releases Q3 Earnings Guidance

F5 (NASDAQ:FFIV) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.89-$3.01 for the period, compared to the consensus estimate of $3.09. The company issued revenue guidance of $675-$695 million, compared to the consensus revenue estimate of $695.85 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

F5 Trading Up 0.8 %

Shares of NASDAQ:FFIV opened at $166.62 on Thursday. The company has a 50 day moving average of $187.30 and a 200 day moving average of $176.82. The stock has a market cap of $9.80 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.43 and a beta of 1.14. F5 has a 12 month low of $129.93 and a 12 month high of $199.49.

F5 (NASDAQ:FFIV) last issued its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.88 by $0.03. F5 had a return on equity of 21.41% and a net margin of 17.91%. The company had revenue of $681.00 million during the quarter, compared to analyst estimates of $685.47 million. During the same quarter in the previous year, the firm earned $1.70 earnings per share. F5’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that F5 will post 9.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FFIV has been the topic of several recent research reports. Barclays reduced their price objective on F5 from $206.00 to $189.00 and set an equal weight rating on the stock in a research report on Tuesday. Piper Sandler restated a neutral rating and issued a $167.00 price objective (down from $187.00) on shares of F5 in a report on Tuesday. The Goldman Sachs Group increased their target price on shares of F5 from $156.00 to $179.00 and gave the company a neutral rating in a report on Tuesday, January 30th. KeyCorp upped their price target on shares of F5 from $186.00 to $204.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. raised their price objective on F5 from $197.00 to $205.00 and gave the company a neutral rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, F5 currently has a consensus rating of Hold and a consensus price target of $185.10.

Insider Transactions at F5

In other news, CFO Francis J. Pelzer sold 500 shares of F5 stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $178.81, for a total value of $89,405.00. Following the sale, the chief financial officer now directly owns 31,290 shares in the company, valued at approximately $5,594,964.90. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $178.81, for a total value of $89,405.00. Following the completion of the transaction, the chief financial officer now directly owns 31,290 shares of the company’s stock, valued at $5,594,964.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Francois Locoh-Donou sold 6,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $188.02, for a total value of $1,203,328.00. Following the transaction, the chief executive officer now owns 123,251 shares in the company, valued at approximately $23,173,653.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,201 shares of company stock worth $1,908,065. Company insiders own 0.58% of the company’s stock.

About F5

F5, Inc provides multi-cloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.