Shares of F5 Networks (FFIV) , the Seattle IT-security company, were climbing as the company's results for the fourth quarter ended Sept. 30 beat analysts' estimates.
Here's a sample of analysts' comments:
Cowen (Outperform Rating Unchanged; PT $172, Up From $168)
FFIV delivered a third straight relatively impressive quarter with a third straight beat and raise and positive commentary and tone. [This] in turn lends support to our view that [the] shares continue to discount an overly severe view of FFIV’s market outlook and competitive positioning. While still early, FFIV’s Nginx and Shape acquisitions appear to have improved FFIV’s strategic relevance.
- Paul Silverstein
William Blair analysts reiterated their market-perform rating. While the company's performance "has exceeded the Street's low expectations, we continue to be wary of weak organic growth in the business," according to Bloomberg.
Raymond James reiterated a market-perform rating, saying that the firm remains "concerned about secular headwinds from competition from the public cloud."
Needham analysts have a market-perform rating on the stock, saying "revenue is accelerating as the mix shifts toward rapidly growing software from declining Appliances."
F5 reported fourth-quarter non-GAAP earnings of $2.43 a share as revenue rose 4% from a year earlier to $615 million. Analysts were expecting the company to report earnings of $2.37 a share on revenue of $607.3 million.
F5 Networks shares at last check were rising 8.8% to $136.61.