Royal Bank of Canada Issues Positive Forecast for F5 (NASDAQ:FFIV) Stock Price

F5 (NASDAQ:FFIVFree Report) had its price objective lifted by Royal Bank of Canada from $240.00 to $260.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the network technology company’s stock.

FFIV has been the topic of several other research reports. StockNews.com upgraded F5 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on F5 from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Piper Sandler upped their price objective on shares of F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their target price on shares of F5 from $230.00 to $262.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Barclays upped their price target on shares of F5 from $214.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $239.33.

View Our Latest Stock Report on F5

F5 Trading Up 1.0 %

F5 stock opened at $254.36 on Friday. The stock has a market cap of $14.91 billion, a PE ratio of 26.61, a P/E/G ratio of 3.52 and a beta of 1.06. The stock has a 50-day moving average price of $248.34 and a 200 day moving average price of $214.41. F5 has a 52 week low of $159.01 and a 52 week high of $264.50.

F5 (NASDAQ:FFIVGet Free Report) last posted its quarterly earnings data on Monday, October 28th. The network technology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. F5 had a net margin of 20.13% and a return on equity of 20.80%. The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $730.43 million. During the same quarter in the previous year, the business posted $2.76 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that F5 will post 11.01 EPS for the current year.

F5 declared that its Board of Directors has approved a share buyback plan on Monday, October 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network technology company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at F5

In related news, Director Alan Higginson sold 825 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $239.77, for a total transaction of $197,810.25. Following the sale, the director now directly owns 9,882 shares in the company, valued at approximately $2,369,407.14. This trade represents a 7.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Francis J. Pelzer sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $217.67, for a total value of $130,602.00. Following the completion of the transaction, the chief financial officer now owns 29,825 shares of the company’s stock, valued at approximately $6,492,007.75. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On F5

A number of large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in F5 by 8.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 39,473 shares of the network technology company’s stock valued at $6,798,000 after buying an additional 3,049 shares during the last quarter. Simon Quick Advisors LLC grew its stake in F5 by 4.9% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,353 shares of the network technology company’s stock valued at $233,000 after purchasing an additional 63 shares in the last quarter. TD Asset Management Inc increased its holdings in F5 by 5.2% during the 2nd quarter. TD Asset Management Inc now owns 16,579 shares of the network technology company’s stock worth $2,855,000 after purchasing an additional 823 shares during the last quarter. National Bank of Canada FI raised its position in shares of F5 by 23.6% in the 2nd quarter. National Bank of Canada FI now owns 16,144 shares of the network technology company’s stock valued at $2,764,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Denver PWM LLC purchased a new position in shares of F5 during the 2nd quarter valued at approximately $56,000. 90.66% of the stock is owned by institutional investors and hedge funds.

About F5

(Get Free Report)

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.

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