Needham & Company Downgrades F5 Networks (FFIV) to Hold

Needham & Company downgraded F5 Networks (NASDAQ: FFIV) from Buy to Hold primarily on valuation.

Analyst Alex Henderson commented, "We continue consider F5 Networks to be the best run company in our coverage. We see the company as well positioned and likely to produce solid growth in CY15 and CY16. However, the stock is now at our $130 Target Price. FFIV shares appreciated over 45% in CY15 (vs up ~17% fpr tje S&P 500). At current prices it is already selling at 20x CY16E P/E and 17x CY16E EV/E. F5 benefited from easy comps throughout CY14 but is confronted with more challenging comps in CY15. We think growth is likely to decelerate."

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 $129.76 yesterday.

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