F5 (NASDAQ:FFIV) Updates Q3 2024 Earnings Guidance

F5 (NASDAQ:FFIV) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.890-3.010 for the period, compared to the consensus earnings per share estimate of 3.090. The company issued revenue guidance of $675.0 million-$695.0 million, compared to the consensus revenue estimate of $694.8 million. F5 also updated its FY 2024 guidance to 12.520-12.750 EPS.

F5 Stock Performance

Shares of NASDAQ:FFIV traded down $2.36 during trading hours on Thursday, reaching $164.26. The stock had a trading volume of 287,138 shares, compared to its average volume of 467,602. F5 has a 1 year low of $130.34 and a 1 year high of $199.49. The firm’s 50 day moving average is $187.01 and its 200-day moving average is $176.75. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.43 and a beta of 1.14.

F5 (NASDAQ:FFIV) last announced its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. F5 had a net margin of 17.91% and a return on equity of 21.41%. The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $685.47 million. During the same period in the prior year, the firm posted $1.70 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts forecast that F5 will post 9.59 EPS for the current year.

Analyst Ratings Changes

FFIV has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their target price on shares of F5 from $204.00 to $182.00 and set a sector perform rating on the stock in a research report on Tuesday. Evercore ISI dropped their target price on shares of F5 from $200.00 to $180.00 and set an in-line rating on the stock in a research report on Tuesday. KeyCorp increased their target price 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. Needham & Company LLC reaffirmed a buy rating and issued a $220.00 target price on shares of F5 in a research report on Tuesday. Finally, Piper Sandler reaffirmed a neutral rating and issued a $167.00 target price (down from $187.00) on shares of F5 in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $185.10.

Insider Buying and Selling

In other news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total value of $91,155.00. Following the completion of the sale, the chief financial officer now owns 32,290 shares in the company, valued at approximately $5,886,789.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Thomas Dean Fountain sold 851 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $183.06, for a total value of $155,784.06. Following the completion of the sale, the executive vice president now owns 15,008 shares in the company, valued at approximately $2,747,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $182.31, for a total transaction of $91,155.00. Following the completion of the sale, the chief financial officer now owns 32,290 shares of the company’s stock, valued at approximately $5,886,789.90. The disclosure for this sale can be found here. Insiders sold a total of 10,201 shares of company stock worth $1,908,065 in the last 90 days. Company insiders own 0.58% of the company’s stock.

F5 Company Profile

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.