F5 Networks (FFIV): Solid Q, Raising PT to $160 - Drexel Hamilton
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Drexel Hamilton analyst, Brian White, reiterated his Buy rating on shares of F5 Networks (NASDAQ: FFIV) after the company delivered a stronger than expected 4Q:FY16 with the highest operating margin on record and a healthy 1Q:FY17 outlook.
The company reported 4Q:FY16 revenue of $525.3 million that beat the Street at $520.7 and was up 5% YoY. Pro forma EPS of $2.11 handily beat the Street at $1.94 as a lower tax rate added approximately $0.06 to EPS.
With the launch of the Shuttle Series in September, F5 expects to finish the roll-out in November and ramp over the next year.
The price target goes to $160 from $155.
Shares of F5 Networks closed at $119.54 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesDrexel Hamilton, Brian White
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