F5 (NASDAQ:FFIV) Updates Q2 Earnings Guidance

F5 (NASDAQ:FFIVGet Rating) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.36-2.48 for the period, compared to the consensus earnings per share estimate of $2.50. The company issued revenue guidance of $690-710 million, compared to the consensus revenue estimate of $703.37 million. F5 also updated its FY 2023 guidance to EPS.

F5 Price Performance

FFIV traded down $1.30 during trading hours on Tuesday, reaching $146.47. 860,732 shares of the stock traded hands, compared to its average volume of 565,277. The firm’s fifty day simple moving average is $147.28 and its two-hundred day simple moving average is $151.35. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.87 and a beta of 1.09. F5 has a fifty-two week low of $133.68 and a fifty-two week high of $225.26.

F5 (NASDAQ:FFIVGet Rating) last posted its quarterly earnings data on Tuesday, January 24th. The network technology company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.14. F5 had a net margin of 11.95% and a return on equity of 17.67%. The firm had revenue of $700.38 million for the quarter, compared to the consensus estimate of $700.59 million. During the same period in the prior year, the firm posted $2.89 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that F5 will post 8.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of F5 from $190.00 to $170.00 and set a neutral rating on the stock in a research note on Tuesday, December 20th. Morgan Stanley increased their price objective on shares of F5 from $170.00 to $190.00 and gave the company an equal weight rating in a research note on Tuesday, December 13th. Barclays reduced their price objective on shares of F5 from $205.00 to $180.00 and set an overweight rating on the stock in a research note on Wednesday, October 26th. Guggenheim started coverage on shares of F5 in a research report on Monday. They issued a neutral rating on the stock. Finally, StockNews.com started coverage on shares of F5 in a research report on Wednesday, October 12th. They issued a buy rating on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $175.33.

Insider Buying and Selling

In related news, CEO Francois Locoh-Donou sold 8,505 shares of the stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $152.26, for a total value of $1,294,971.30. Following the sale, the chief executive officer now owns 113,335 shares of the company’s stock, valued at approximately $17,256,387.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Francois Locoh-Donou sold 8,505 shares of the stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $152.26, for a total value of $1,294,971.30. Following the sale, the chief executive officer now owns 113,335 shares of the company’s stock, valued at approximately $17,256,387.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Mika Yamamoto sold 5,442 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $141.27, for a total transaction of $768,791.34. Following the transaction, the chief marketing officer now directly owns 7,800 shares in the company, valued at approximately $1,101,906. The disclosure for this sale can be found here. Insiders have sold a total of 25,521 shares of company stock valued at $3,747,727 in the last quarter. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On F5

Several large investors have recently bought and sold shares of FFIV. First Trust Advisors LP increased its stake in F5 by 19.8% during the 1st quarter. First Trust Advisors LP now owns 1,075,970 shares of the network technology company’s stock valued at $224,824,000 after buying an additional 178,042 shares during the period. Vanguard Group Inc. increased its stake in F5 by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,830,286 shares of the network technology company’s stock valued at $1,427,188,000 after buying an additional 96,873 shares during the period. Invesco Ltd. grew its stake in shares of F5 by 14.7% in the 1st quarter. Invesco Ltd. now owns 714,798 shares of the network technology company’s stock worth $149,358,000 after purchasing an additional 91,580 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of F5 by 34.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 169,000 shares of the network technology company’s stock worth $35,312,000 after purchasing an additional 43,731 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC grew its stake in shares of F5 by 98.3% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 74,965 shares of the network technology company’s stock worth $10,850,000 after purchasing an additional 37,161 shares during the last quarter. Institutional investors and hedge funds own 93.34% of the company’s stock.

About F5

(Get Rating)

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 multi-cloud application security and delivery solutions enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud.

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Earnings History and Estimates for F5 (NASDAQ:FFIV)

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