F5 (NASDAQ:FFIV) Price Target Raised to $250.00 at JPMorgan Chase & Co.

F5 (NASDAQ:FFIV) had its price target upped by analysts at JPMorgan Chase & Co. from $225.00 to $250.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the network technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 4.62% from the company’s current price.

A number of other brokerages have also recently weighed in on FFIV. Evercore ISI upped their price objective on shares of F5 from $180.00 to $210.00 and gave the stock an “in-line” rating in a report on Tuesday, July 30th. Needham & Company LLC raised their price target on F5 from $220.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Piper Sandler increased their price objective on shares of F5 from $186.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price on shares of F5 from $185.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their target price on F5 from $182.00 to $205.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, F5 currently has a consensus rating of “Hold” and an average target price of $233.56.

F5 Price Performance

Shares of NASDAQ:FFIV opened at $238.95 on Tuesday. F5 has a one year low of $149.40 and a one year high of $250.46. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.54 and a beta of 1.06. The company’s fifty day moving average price is $213.36 and its 200-day moving average price is $189.31.

F5 (NASDAQ:FFIV) last issued its earnings results on Monday, October 28th. The network technology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. The firm had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $730.43 million. F5 had a net margin of 19.94% and a return on equity of 21.03%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $2.76 earnings per share. As a group, equities research analysts expect that F5 will post 10.17 EPS for the current year.

F5 announced that its board has authorized a share repurchase program on Monday, October 28th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the network technology company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at F5

In other news, CFO Francis J. Pelzer sold 500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $196.73, for a total transaction of $98,365.00. Following the completion of the sale, the chief financial officer now owns 31,125 shares in the company, valued at approximately $6,123,221.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other F5 news, CFO Francis J. Pelzer sold 500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $196.73, for a total value of $98,365.00. Following the completion of the transaction, the chief financial officer now owns 31,125 shares of the company’s stock, valued at approximately $6,123,221.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Dean Fountain sold 851 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $192.71, for a total value of $163,996.21. Following the completion of the transaction, the executive vice president now directly owns 16,000 shares in the company, valued at approximately $3,083,360. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,551 shares of company stock valued at $1,334,698 over the last quarter. 0.58% of the stock is owned by corporate insiders.

Institutional Trading of F5

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of F5 by 36.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,324 shares of the network technology company’s stock valued at $2,147,000 after buying an additional 3,008 shares in the last quarter. Norden Group LLC purchased a new stake in F5 during the 1st quarter worth approximately $317,000. Van ECK Associates Corp raised its holdings in shares of F5 by 6.6% during the first quarter. Van ECK Associates Corp now owns 10,362 shares of the network technology company’s stock valued at $1,965,000 after acquiring an additional 642 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of F5 by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,242 shares of the network technology company’s stock valued at $14,602,000 after acquiring an additional 8,058 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of F5 by 28.1% during the first quarter. BNP Paribas Financial Markets now owns 89,906 shares of the network technology company’s stock worth $17,045,000 after purchasing an additional 19,746 shares in the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.

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.