F5 (NASDAQ:FFIV) Updates FY 2024 Earnings Guidance

F5 (NASDAQ:FFIV) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 12.520-12.750 for the period, compared to the consensus estimate of 12.060. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. F5 also updated its FY24 guidance to $12.52-$12.75 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on FFIV shares. Piper Sandler upped their target price on shares of F5 from $170.00 to $187.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Royal Bank of Canada restated a sector perform rating and set a $204.00 target price on shares of F5 in a report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on shares of F5 from $197.00 to $205.00 and gave the company a neutral rating in a research report on Thursday, April 11th. KeyCorp boosted their price objective on shares of F5 from $186.00 to $204.00 and gave the company an overweight rating in a report on Thursday, January 18th. Finally, Barclays increased their target price on shares of F5 from $163.00 to $206.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, F5 has an average rating of Hold and an average target price of $192.22.

F5 Stock Up 0.1 %

Shares of NASDAQ:FFIV traded up $0.19 during midday trading on Monday, reaching $182.13. 1,030,164 shares of the company were exchanged, compared to its average volume of 443,347. The firm has a market cap of $10.71 billion, a PE ratio of 23.51, a P/E/G ratio of 2.68 and a beta of 1.11. F5 has a fifty-two week low of $129.93 and a fifty-two week high of $199.49. The stock has a fifty day simple moving average of $187.66 and a two-hundred day simple moving average of $176.53.

F5 (NASDAQ:FFIV) last posted its quarterly earnings data on Monday, April 29th. The network technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.03. The business had revenue of $681.00 million during the quarter, compared to the consensus estimate of $685.47 million. F5 had a return on equity of 20.81% and a net margin of 16.43%. F5’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $1.70 earnings per share. As a group, analysts forecast that F5 will post 9.59 earnings per share for the current year.

Insider Buying and Selling at F5

In related news, CFO Francis J. Pelzer sold 500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $182.31, for a total transaction of $91,155.00. Following the sale, the chief financial officer now owns 32,290 shares in the company, valued at $5,886,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Francis J. Pelzer sold 500 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $182.31, for a total transaction of $91,155.00. Following the transaction, the chief financial officer now directly owns 32,290 shares in the company, valued at $5,886,789.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas Dean Fountain sold 851 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $183.06, for a total transaction of $155,784.06. Following the completion of the sale, the executive vice president now owns 15,008 shares of the company’s stock, valued at approximately $2,747,364.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,201 shares of company stock worth $1,908,065. Insiders own 0.58% of the company’s stock.

About F5

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.