F5 Gets Price Target Cuts By Analysts After Q2 Results

F5, Inc. FFIV posted upbeat earnings for its second quarter and announced plans to reduce its global headcount by approximately 620 employees.

F5 posted quarterly earnings of $2.53 per share, beating analysts’ estimates of $2.42 per share. The company’s quarterly sales came in at $703.00 million, versus expectations of $699.04 million.

F5 shares fell 8.5% to $125.43 in pre-market trading.

These analysts made changes to their price targets on F5 following earnings announcement.

• Barclays cut the price target on F5 from $166 to $140. Barclays analyst Tim Long downgraded the stock from Overweight to Equal Weight.
• Piper Sandler lowered the price target on F5 from $156 to $143. Piper Sandler analyst James Fish maintained a Neutral rating.
• RBC Capital cut the price target on F5 from $155 to $146. RBC Capital analyst Matthew Hedberg maintained the stock with a Sector Perform rating.
• Credit Suisse slashed the price target on F5 from $166 to $155. Credit Suisse analyst Sami Badri maintained the stock with a Neutral.
• TD Cowen lowered the price target on F5 from $177 to $170. TD Cowen analyst Paul Silverstein maintained the stock with an Outperform.
• Morgan Stanley cut the price target on F5 from $175 to $165. Morgan Stanley analyst Meta Marshall maintained an Equal-Weight rating on the stock.

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