F5 Networks (NASDAQ:FFIV) Updates Q1 Earnings Guidance

F5 Networks (NASDAQ:FFIV) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.41-$2.44 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.47. The company issued revenue guidance of $560-$570 million, compared to the consensus revenue estimate of $566.70 million.F5 Networks also updated its Q1 2020 guidance to $2.41-2.44 EPS.

NASDAQ:FFIV traded down $0.78 during mid-day trading on Wednesday, reaching $138.32. The stock had a trading volume of 849,692 shares, compared to its average volume of 667,730. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. F5 Networks has a 1-year low of $121.36 and a 1-year high of $190.08. The stock’s 50 day simple moving average is $136.25 and its two-hundred day simple moving average is $142.40.

F5 Networks (NASDAQ:FFIV) last posted its quarterly earnings results on Wednesday, July 24th. The network technology company reported $1.98 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.06). The firm had revenue of $563.39 million during the quarter, compared to analyst estimates of $556.15 million. F5 Networks had a return on equity of 36.33% and a net margin of 21.03%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. As a group, analysts predict that F5 Networks will post 8.22 EPS for the current fiscal year.

FFIV has been the subject of a number of research reports. BidaskClub downgraded F5 Networks from a hold rating to a sell rating in a research note on Saturday, October 5th. Craig Hallum started coverage on F5 Networks in a research note on Tuesday, September 10th. They issued a buy rating and a $168.00 target price for the company. Morgan Stanley upgraded F5 Networks from an underweight rating to an equal weight rating and set a $130.00 target price for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a hold rating on shares of F5 Networks in a research note on Monday. Finally, Barclays started coverage on F5 Networks in a research note on Wednesday, August 7th. They issued an overweight rating and a $160.00 target price for the company. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $162.99.

In other F5 Networks news, EVP Stephen Mcmillan sold 1,972 shares of F5 Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $147.16, for a total value of $290,199.52. Following the completion of the transaction, the executive vice president now directly owns 5,455 shares in the company, valued at $802,757.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chad Michael Whalen sold 297 shares of F5 Networks stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $127.63, for a total value of $37,906.11. Following the sale, the executive vice president now directly owns 1,331 shares in the company, valued at approximately $169,875.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,783 shares of company stock valued at $2,219,345. 0.22% of the stock is currently owned by insiders.

F5 Networks Company Profile

F5 Networks, Inc develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. The company's primary application delivery technology is Traffic Management Operating System (TMOS) that enable company's products to intercept, inspect, and act on the contents of traffic from virtually each type of Internet Protocol-enabled application.

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Earnings History and Estimates for F5 Networks (NASDAQ:FFIV)

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