F5 Networks (FFIV) PT Lowered to $170 at DA Davidson

DA Davidson analyst Mark Kelleher lowered the price target on F5 Networks (NASDAQ: FFIV) to $170.00 (from $181.00) while maintaining a Neutral rating.

The analyst commented, "FFIV announced its intention to buy NGINX for $670M, causing a negative stock reaction, driven by factors including the near-term EPS dilution, significant premium paid, and the fact that the purchase only indirectly helps the company's security growth profile. We are not yet convinced that the acquisition can impact FFIV's top line growth trajectory in a meaningful way, and we maintain our NEUTRAL rating."

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