Cantor Fitzgerald Starts F5 Networks (FFIV) at Hold; Uncontested in Core Market, Untested Outside

Cantor Fitzgerald initiates coverage on F5 Networks (NASDAQ: FFIV) with a Hold. PT $145.00.

Analyst, Paul Mansky, said, "While we have a sincere appreciation of F5’s sustained competitive positioning, the secular trends benefitting the company and its solid execution, we view our price target as a fully valued figure which, offering only 14% upside versus current levels, represents an insufficient 12-month return."

"Our $145 price target is 31x CY:12 EPS of $4.73 and 7.8x CY:12 revenue of $1.5 billion, both at the high end of the recent range. Applying a mean 25x multiple to CY:13 EPS up/downside of $5.45-5.78 suggests risk/reward of $142-150, leaving our target slightly below the middle of the range."

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 $124.49 yesterday.

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