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eBay, F5 Networks: Tech Winners & Losers

NEW YORK ( TheStreet) -- eBay (EBAY) climbed 8.63% to $43.95 on Thursday after analysts reinforced the strong second-quarter earnings and positive outlook announced on Wednesday.

Atlantic Equities analyst James Cordwell, increased his price target of the online retail giant to $48 and maintained his 'Overweight' rating in a note to client on Thursday.

"eBay delivered another strong quarter with both revenue and EPS [earnings per share] ahead of consensus and guidance in line with underlying expectations. Impressive results from the Marketplaces business suggest the recent turnaround in performance is sustainable, while the company's strong position on mobile devices is helping drive growth at both divisions," he wrote.

F5 Networks (FFIV - Get Report) climbed 4.22% to $102.75 on Thursday. The internet security company met expectations with its third-quarter earnings, but some analysts expressed concerns about the company's future.

Credit Suisse analyst Paul Silverstein maintained his "outperform" rating, but reduced his price target from $139 to $132 to reflect the challenging macro-economic environment.

"We still see F5 as leveraged to the strongest secular tech growth drivers including data center consolidation, virtualization, mobile data and application growth, cloud computing adoption, and security. If and when end demand improves, we expect our forecasts will prove conservative," Silverstein said.

Cypress Semiconductor (CY - Get Report) reported second-quarter revenue that fell short of analyst expectations. Earnings per share rose 50% during the quarter, but revenue only increased 9%.

The chipmaker said weak global economy combined with some customer delays are also limiting growth prospects for the third quarter.

Shares traded down 3.01% to $11.59.

--Written by Nathalie Pierrepont in New York.

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CY $9.03 0.00%
EBAY $24.43 0.00%
FFIV $104.75 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


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