Needham & Company on F5 Networks (FFIV); We Usually Raises Estimates After Each Quarter, But...

Needham & Company maintains a 'Buy' on F5 Networks (NASDAQ: FFIV) price target of $130.00.

Analyst, Alex Henderson, said, "The results posted by F5 and the guidance offered for the fiscal 4Q/CY 3Q quarter reflect countervailing forces: good results from F5’s products and execution and weaker economic conditions. Security looks to be a key driver of enterprise demand...Normally we expect to increase estimates on F5 Networks each quarter. However, given the tough and eroding economic conditions, we are trimming them slightly."

Henderson lowers several guidance metrics including: CY12 EPS ests cut to $4.60 from $4.65, 16.7% growth from 18.4%; FY12 EPS from $4.46 to $4.44; CY13 estimates cut to $5.17 from $5.27, 12.3% growth from 13.3%; FY13 EPS from $5.07 to $4.96; FY13 revenue estimates from $1.643B to $1.593B.

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 $98.59 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson