Wedbush Maintains an 'Outperform' on F5 Networks (FFIV); Beat & Raise as New Product Cycle Positions Company for Growth
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Price: $403.20 -3.08%
Rating Summary:
21 Buy, 25 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 25 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush maintains an 'Outperform' on F5 Networks (NASDAQ: FFIV) price target raised from $115 to $125.
Wedbush analyst said, "We maintain our rating as we believe the company is well-positioned to deliver growth and profitability ahead of expectations in FY12, driven by its comprehensive new product refresh and robust pipeline. FQ1 results surpassed estimates driven by service contract renewals and generally solid demand across all geographies. While there were some weak areas, including anemic federal performance and lackluster product revenue growth, FQ2 guidance was better-than-expected driven by the company’s strong visibility, book-to-bill which was above one, robust deferred revenue growth and management’s expectation that product revenue will reaccelerate beginning next quarter. We think FQ2 guidance may prove conservative, given the significant new product refresh unfolding over the next several quarters...We advise investors to buy F5 as it remains the clear leader in the space and growth prospects remain attractive."
Wedbush raises FY12 EPS estimate from $4.38 to $4.48 and FY13 from $5.13 to $5.27.
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 $108.46 yesterday.
Wedbush analyst said, "We maintain our rating as we believe the company is well-positioned to deliver growth and profitability ahead of expectations in FY12, driven by its comprehensive new product refresh and robust pipeline. FQ1 results surpassed estimates driven by service contract renewals and generally solid demand across all geographies. While there were some weak areas, including anemic federal performance and lackluster product revenue growth, FQ2 guidance was better-than-expected driven by the company’s strong visibility, book-to-bill which was above one, robust deferred revenue growth and management’s expectation that product revenue will reaccelerate beginning next quarter. We think FQ2 guidance may prove conservative, given the significant new product refresh unfolding over the next several quarters...We advise investors to buy F5 as it remains the clear leader in the space and growth prospects remain attractive."
Wedbush raises FY12 EPS estimate from $4.38 to $4.48 and FY13 from $5.13 to $5.27.
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 $108.46 yesterday.
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