Credit Suisse Upgrades F5 Networks (FFIV) to Outperform; Due for a Re-Rating
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(Updated - June 10, 2021 6:57 AM EDT)
Credit Suisse analyst Sami Badri upgraded F5 Networks (NASDAQ: FFIV) from Neutral to Outperform with a price target of $235.00 (from $203.00).
The analyst commented, "We are upgrading FFIV to Outperform and increasing our target price to $235 following our NDR with FFIV Mgmt. which included the CEO, CFO, and IR. Mgmt. tone was very confident and their answers to our very specific questions about underlying business trends were answered and illustrated significantly better than what we believe the market suggests about FFIV’s business. Based on our increased confidence in mgmt.’s ability to execute and potentially exceed expectations, we slightly revise our model est. alongside our upgrade, believing FFIV is due for a multiple re-rating as software revenues re-accelerate in F3Q21 to ~31% y/y growth."
Shares of F5 Networks closed at $187.74 yesterday.
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