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UPDATE: Loop Capital Starts F5 Networks (FFIV) at Buy

February 14, 2022 7:50 AM EST
Get Alerts FFIV Hot Sheet
Price: $150.42 -1.3%

Rating Summary:
    19 Buy, 27 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 31 | New: 13
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(Updated - February 14, 2022 7:59 AM EST)

Loop Capital analyst Fahad Najem initiates coverage on F5 Networks (NASDAQ: FFIV) with a Buy rating and a price target of $273.00.

The analyst comments "Missing the Forest for The Trees...Post FY1Q22 Pullback Offers Compelling Opportunity. We are initiating coverage with a Buy rating and setting our 12-month Price Target to $273, based on 21x our Street-high CY24 EPS (Ex-ESC) $15.72 forecast and discounting by 10%, implies over 40% upside in F5 shares. F5 ties with CIEN (buy, $87PT) and FN (buy, $120PT) as our second-best top pick for CY22. The ongoing shift of enterprise workloads to Public Cloud and the emergence of edge-cloud opportunity should significantly expand the TAM for Application Delivery Controllers (ADCs) and particularly for F5. Post FY1Q22 operating results and FY2Q22 outlook, we are mindful of investor concerns regarding the uneven progress in F5's revenue growth, however, as a reminder, we think progress is seldom ever always linear and see F5 shares as offering a compelling entry point for growth-oriented investors."

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 $195.82 yesterday.


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