F5 Networks, Inc.’s (FFIV) Price Target Raised; Maintains Outperform Rating
March 17, 2010 11:23 AM
Analysts Brent Bracelin and Erin Anthony at PacificCrest have raised the price target for F5 Networks, Inc. (NASDAQ: FFIV) stock from $68 to $76.
The analysts' checks with their reseller contacts have shown that they are bullish on enterprise IT spending. According to analysts, demand for F5 Networks’ BIG-IP application delivery controller was cited by their reseller contacts as strong.
Analysts have raised their 2010 and 2011 revenue and EPS estimates because of increasing confidence about an enterprise recovery and BIG-IP hardware upgrades to TMOS v10.1. The revenue estimates have been raised by $10 million and $12 million for 2010 and 2011, respectively. EPS estimate for 2010 has been raised by $0.03 to $2.20 and for 2011 by $0.04 to $2.64.
Analysts at PacificCrest have maintained their Outperform rating F5 Networks, Inc.
