F5 Networks Shares Jump as William Blair Sees Improved Outlook for Next Quarter
F5 Networks (NASDAQ: FFIV) shares opened Thursday's session at $74.60, up about 3.5 percent from Wednesday's close of $71.95. Traders in the name are attributing the nice move higher to some bullish comments from William Blair analyst Jason Ader.
Ader stated checks showed improving performance for Q3 as deals delayed from the previous quarter have been closed.
Ader has a positive outlook for F5 in the short term, though remains skeptical as Q3 product growth will likely be negative compared to the previous year. Slowing growth is attributed to a maturing Application Delivery Controller market.
F5 Networks has a Market Perform rating at William Blair.
F5 shares last traded at $75.41, up nearly 5 percent for the session.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.