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F5 Could More Than Double As Solid Demand Trends Continue & Supply Constrains Start To Ease, Needham Says – F5 (NASDAQ:FFIV) – Stocks to Watch
  • Tue. Apr 23rd, 2024
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F5 Could More Than Double As Solid Demand Trends Continue & Supply Constrains Start To Ease, Needham Says – F5 (NASDAQ:FFIV)

ByAnusuya Lahiri

Sep 23, 2022
F5 Could More Than Double As Solid Demand Trends Continue & Supply Constrains Start To Ease, Needham Says - F5 (NASDAQ:FFIV)

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  • Needham analyst Alex Henderson reiterated a Buy and $303 price target on F5, Inc FFIV.

  • F5 was careful not to update conditions post its last earnings call, but he sensed that demand was vital for Security and Systems. 

  • Supply remains a significant constraint and has not improved materially, but it seems there was improvement at the margin. 

  • F5 highlights solid redesign progress, which should start to help in the FY1Q/CY4Q quarter and ramp across FY23.

  • Also Read: AI ‘Transformed’ This Networking Firm. Cisco May Want To Take Note, Analyst Says 

  • In addition, the software/feature work on the new rSeries systems continues to make solid progress and is gradually opening customer sales opportunities. 

  • On Security and Software, F5 is pretty straightforward. 

  • Demand remains strong, the pipeline is robust, and the macro conditions are not impacting the trajectory. 

  • FFIV shares have corrected more than other networking names, and surprisingly, based on his estimates, FFIV trades at a discount to Extreme Networks, Inc EXTR and Juniper Networks, Inc JNPR on CY23 EV/E and Cisco Systems, Inc CSCO on CY24.

  • Price Action: FFIV shares traded lower by 2.20% at $142.46 on the last check Friday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Anusuya Lahiri

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