Baird reiterated a Neutral rating on F5 Networks (NASDAQ: FFIV), and cut the price target to $120.00 (from $130.00), following the company's 4Q earnings results. Revenue $501 million, and non-GAAP EPS of $1.84 compared to consensus of $506 million and $1.74. Management Guided Revenue and non-GAAP EPS to $480-$490 million and $1.58-$1.61, compared with consensus of $507 million and $1.71. Management also said it factored a measure of continued uncertainty into FQ1 regarding close rates.

Analyst Jayson Noland commented, "F5 posted a soft quarter and FQ1 guide following a strong June quarter. Management cited weakness in U.S Service Provider, U.S. Commercial, Japan, Canada, and Latin America. We remain favorable on the company’s positioning but we don’t see a near-term catalyst that would drive the share price higher. In addition, F5 has tended to struggle with seasonality in its FQ1 and FQ2."

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Shares of F5 Networks closed at $121.34 yesterday.