F5 Analysts Boost Their Forecasts After Better-Than-Expected Q1 Results
Portfolio Pulse from Avi Kapoor
F5, Inc. (NASDAQ:FFIV) reported Q1 results surpassing expectations with a slight revenue decline but higher adjusted EPS. The company raised its adjusted EPS growth outlook for FY24 and saw improvements in GAAP and non-GAAP operating margins. Following the report, F5 shares rose 2.4%, and several analysts increased their price targets while maintaining various ratings.
January 30, 2024 | 6:40 pm
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F5, Inc. reported better-than-expected Q1 results with revenue of $693 million and adjusted EPS of $3.43, exceeding consensus estimates. The company also raised its adjusted EPS growth outlook for FY24 and reported significant margin improvements.
The positive earnings report and raised EPS outlook are likely to instill investor confidence and could lead to a continued short-term upward trend in FFIV's stock price. The subsequent analyst price target increases support this positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100