UPDATE: Wedbush Reiterates Outperform Rating, Lowers PT on F5 Networks on Weaker FQ2 Results

In a report published Friday, Wedbush analyst Rohit Chopra reiterated an Outperform rating on F5 Networks (NASDAQ: FFIV), but lowered the price target from $112.00 to $90.00.In the report, Chopra noted, “F5 Networks pre-announced lower-than-expected FQ2 results with revenue coming in at $350.2mn and EPS of $1.06 to $1.07. Management had expected Q2 revenue of $370-380mn and Q2 EPS of $1.21-1.24. FQ2 revenue was well short of our estimate and consensus of $376mn. FQ2 EPS also missed our and the consensus estimate of $1.23.”F5 Networks closed on Thursday at $90.42.