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Fly News Breaks for January 28, 2020
FFIV
Jan 28, 2020 | 08:44 EDT
RBC Capital analyst Matthew Hedberg lowered his price target on F5 Networks to $145 after its "mixed" Q1 results and below-consensus Q2 guidance, noting that while earnings beat consensus, product revenue was weaker than expected. The analyst notes that the company's software growth decelerated and systems revenue declined again, with strength in services revenue driving the overall top-line beat. Hedberg keeps his Sector Perform rating and looks ahead to the company's March 3rd analyst day for updated Horizon 2 targets.
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