F5 Networks (FFIV) Estimates Lifted at Needham & Company Amid Q4 'Beat'

Needham & Company analyst Alex Henderson reiterated a Buy rating and $125 price target on F5 Networks (NASDAQ: FFIV) following another beat and positive commentary.

Henderson commented, "F5 delivered 20% Product Sales growth, a 20% increase in its Deferred Revenues and 25% EPS growth for the quarter. Management offered a uniformly upbeat discussion of its business prospects with a strong pipeline, larger deal sizes, strong penetration in replacing the discontinued Cisco ACE installed base, a robust outlook for growth in Service Provider and an expectation for another year of strong growth and sustained high margins. F5 also continues to buy its shares in the open market and generate excess cash."

The firm is: Increasing CY14 Revenues to $1,790MM from $1,784MM and EPS to $5.71 from $5.63; Increasing CY15 Revenues to $1,967MM from $1,962MM and EPS to $6.22 from $6.06; Setting initial CY16 estimates for Revenues of $2,162MM and EPS of $6.78.

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 $117.12 yesterday.

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