UPDATE: Stifel Downgrades F5 Networks to Hold, Removes PT with Confluence of Factors Likely Impacting 2015 Growth

In a report published Thursday, Stifel analyst Sanjiv Wadhwani downgraded the rating on

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.