Baird Cuts Price Target on F5 Networks (FFIV) Following a Soft 4Q

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."

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 $121.34 yesterday.

You May Also Be Interested In

• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$221 at BMO Capital
• Oxford Industries (OXM) PT Lowered to $40 at UBS Amid Top-line Weakness