Needham & Company Upgrades F5 Networks (FFIV) to Buy; Buy on Weakness Post Q2 Results

Needham & Company upgraded F5 Networks (NASDAQ: FFIV) from Hold to Buy with a price target of $140.00 on weakness post Q2 results.

Analyst Alex Henderson commented, "FFIV is indicating down ATC on an in-line Revenue quarter with a soft top-line and in-line guide. We have been on the sidelines waiting for FX and compare issues to be fully discounted. We think the issues are now known and that the stock looks attractive for a stronger second half against easier comps, better Capex conditions and continued strong internal fundamentals at F5. We upgrade to Buy from Hold on the expected opening weakness. We are setting a target price of $140 per share"

The firm is maintaining CY2Q, CY3Q, and CY4Q EPS estimates. CY15 EPS Increases to $6.39 from $6.28 on the CY151Q above forecast result. Maintaining CY16 Revenues of $2.1B and EPS at $6.78.

For an analyst ratings summary and ratings history on F5 Networks click here. For more ratings news on F5 Networks click here.

Shares of F5 Networks closed at $120.42 yesterday.

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