F5 Analysts Raise Their Forecasts After Upbeat Earnings

F5, Inc. FFIV reported better-than-expected earnings for its third quarter.

F5 posted quarterly earnings of $3.21 per share, beating analysts’ estimates of $2.86 per share. The company’s quarterly sales came in at $702.64 million, versus expectations of $699.39 million.

F5 sees fiscal fourth-quarter revenue in the range of $690 million to $710 million versus analyst consensus of $701.94 million. Earnings are expected to be between $3.15 and $3.27 per share versus analyst consensus of $3.22.

F5 shares jumped 9.9% to $165.09 in pre-market trading.

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

• Keybanc raised the price target on F5 from $179 to $193. Keybanc analyst Thomas Blakey maintained an Overweight rating.
• Needham boosted the price target on F5 from $175 to $180. Needham analyst Alex Henderson maintained a Buy rating.
• Barclays raised F5 price target from $140 to $162. Barclays analyst Tim Long maintained an Equal-Weight rating.

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