In a report published Thursday, Stifel analyst Sanjiv Wadhwani downgraded the rating on F5 Networks FFIV from Buy to Hold, and removed the $140.00 price target.
In the report, Stifel noted, “We move to a Hold rating on F5 with the company posting lower-than-expected results for the December quarter. The company cited two factors for the shortfall – typical December quarter softness and a marked decrease in the number of deals greater than $1 million. These large deals are now in the pipeline and the company expects to see a resumption of large deals in the March quarter.”
F5 Networks closed on Wednesday at $125.95.
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