F5 Networks (FFIV) Takes Up Fight as Rumored Cisco (CSCO) Citrix (CTXS) Deal Looms
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Price: $384.63 +1.81%
Rating Summary:
21 Buy, 25 Hold, 4 Sell
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 25 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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F5 Networks (Nasdaq: FFIV) investors rejoiced recently when Cisco (Nasdaq: CSCO) announced its exit from the Application Delivery Controller (ADC) market, noted a report by analysts at MKM Partners.
"There has been renewed concern highlighting the possibility that Cisco and Citrix (Nasdaq: CTXS) may announce a strategic ADC agreement under which the Citrix NetScaler products will be sold through Cisco’s prodigious channel," said analyst Michael Genovese.
"We think there is a good chance there will be such an announcement this week at Citrix's Synergy event in Barcelona," he said.
F5 has roughly 50 percent of the global ADC market, Citrix has nearly 20 percent, and Cisco has 15 percent.
"F5 has a long and successful history of competing against both Cisco and Citrix and is already out with an aggressive promotion, offering customers double the typical trade-in value for Cisco ACE modules. That said, the potential OEM agreement between Cisco and Citrix certainly bears watching for F5 investors," said Genovese.
MKM Partners reiterated a Buy on F5 Networks (NASDAQ: FFIV) with a price target of $130.00. F5 networks will be reporting earnings next Wednesday, October 24th.
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 $98.31 yesterday.
"There has been renewed concern highlighting the possibility that Cisco and Citrix (Nasdaq: CTXS) may announce a strategic ADC agreement under which the Citrix NetScaler products will be sold through Cisco’s prodigious channel," said analyst Michael Genovese.
"We think there is a good chance there will be such an announcement this week at Citrix's Synergy event in Barcelona," he said.
F5 has roughly 50 percent of the global ADC market, Citrix has nearly 20 percent, and Cisco has 15 percent.
"F5 has a long and successful history of competing against both Cisco and Citrix and is already out with an aggressive promotion, offering customers double the typical trade-in value for Cisco ACE modules. That said, the potential OEM agreement between Cisco and Citrix certainly bears watching for F5 investors," said Genovese.
MKM Partners reiterated a Buy on F5 Networks (NASDAQ: FFIV) with a price target of $130.00. F5 networks will be reporting earnings next Wednesday, October 24th.
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 $98.31 yesterday.
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