F5 Networks (FFIV) PT Raised to $304 at Piper Sandler Following Largest Beat in the Company's History

Piper Sandler analyst James Fish raised the price target on F5 Networks (NASDAQ: FFIV) to $304.00 (from $246.00) while maintaining a Neutral rating.

The analyst commented: "Shares are pointed higher after F5 reported its largest beat in the company's history given better IT budgets, datacenter refresh, vendor consolidation, competitive disruption (Citrix), AI-related demand, and some pull-in of demand ahead of price increases across hardware and software. The question moving forward centers around growth sustainability (vs. peak) given all the moving parts and upside coming from non-recurring sources. Many of the drivers reflect our '25 themes, and we see the updated guide better reflecting what is going on in the environment. With MSD-growth as likely the sustainable rate and shares now at 18x / 20x CY26E FCF / EPS after-hours that is giving 'GARP' credit, we prefer "NPR" for infrastructure-refresh but applaud F5 on a fairly solid FQ1. PT to $304."

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