JPMorgan Chase & Co. Increases F5 (NASDAQ:FFIV) Price Target to $305.00

F5 (NASDAQ:FFIV) had its price target raised by stock analysts at JPMorgan Chase & Co. from $285.00 to $305.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the network technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.94% from the stock’s current price.

Several other brokerages have also issued reports on FFIV. Royal Bank Of Canada restated a “sector perform” rating and set a $290.00 target price on shares of F5 in a research report on Tuesday, April 29th. Piper Sandler reaffirmed a “neutral” rating and set a $304.00 price target (up previously from $269.00) on shares of F5 in a research note on Monday, July 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of F5 in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of F5 from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley lifted their price target on shares of F5 from $269.00 to $280.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, F5 currently has an average rating of “Hold” and an average price target of $291.44.

F5 Price Performance

Shares of NASDAQ:FFIV opened at $302.17 on Thursday. F5 has a 1 year low of $170.21 and a 1 year high of $313.00. The business has a 50 day simple moving average of $290.88 and a two-hundred day simple moving average of $279.22. The firm has a market capitalization of $17.35 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.82 and a beta of 1.00.

F5 (NASDAQ:FFIV) last announced its earnings results on Monday, April 28th. The network technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.31. F5 had a return on equity of 21.18% and a net margin of 21.14%. The business had revenue of $590.16 million during the quarter, compared to analyst estimates of $719.91 million. During the same quarter in the previous year, the business earned $2.91 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts expect that F5 will post 11.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael L. Dreyer sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $285.96, for a total value of $514,728.00. Following the completion of the transaction, the director owned 4,376 shares of the company’s stock, valued at $1,251,360.96. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan Higginson sold 1,272 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $286.69, for a total transaction of $364,669.68. Following the completion of the transaction, the director directly owned 9,919 shares of the company’s stock, valued at $2,843,678.11. This trade represents a 11.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,519 shares of company stock valued at $2,408,594 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On F5

Large investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC raised its stake in F5 by 134.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 103 shares of the network technology company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Golden State Wealth Management LLC raised its stake in F5 by 275.0% in the first quarter. Golden State Wealth Management LLC now owns 105 shares of the network technology company’s stock worth $28,000 after buying an additional 77 shares in the last quarter. Park Square Financial Group LLC bought a new position in F5 in the fourth quarter worth approximately $31,000. Groupe la Francaise bought a new position in F5 in the first quarter worth approximately $34,000. Finally, Crowley Wealth Management Inc. bought a new position in F5 in the fourth quarter worth approximately $35,000. Institutional investors own 90.66% 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.