F5 Networks (FFIV) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 21, 2016.
Many Wall Street Analysts have commented on F5 Networks. Company shares were Initiated by Wunderlich on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $100 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .Company shares were Reiterated by MKM Partners on Jun 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 118 from a previous price target of $106 .
On the company’s financial health, F5 Networks reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.79. The company had revenue of $496.52 million for the quarter, compared to analysts expectations of $495.70 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS.
F5 Networks opened for trading at $121.75 and hit $122.24 on the upside on Wednesday, eventually ending the session at $121.47, with a gain of 0.72% or 0.87 points. The heightened volatility saw the trading volume jump to 13,86,561 shares. Company has a market cap of $8,136 M.
In a different news, on Jun 9, 2016, Andrew Reinland (EVP, Chief Financial Officer) sold 4,352 shares at $120.11 per share price. According to the SEC, on May 12, 2016, John Mcadam (President and CEO) sold 7,169 shares at $102.34 per share price. On May 3, 2016, Scot Frazier Rogers (EVP and General Counsel) sold 1,597 shares at $103.64 per share price, according to the Form-4 filing with the securities and exchange commission.
F5 Networks Inc. is the developer and provider of application delivery services. The Company’s core technology is a full-proxy programmable software platform called TMOS (Traffic Management Operating System). It helps organizations seamlessly scale cloud data center and software-defined networking deployments to successfully deliver applications to anyone anywhere at any time. It works with many technology companies to improve manageability strengthen security and ensure faster and more successful deployments. Its applications include availability and delivery. It can remove the roadblocks in ones network to efficiently and securely deliver applications that are available to users when and where they need them. It can also accelerate ones application response time minimize latency and delays and reduce the number of data round trips necessary to complete a web request.