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Deutsche Bank Downgrades F5 Networks (FFIV) to Sell, Lowers FY 2017/2018 EPS Estimates

March 29, 2017 5:40 AM EDT
Get Alerts FFIV Hot Sheet
Price: $187.35 --0%

Rating Summary:
    18 Buy, 28 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 41
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(Updated - March 29, 2017 6:12 AM EDT)

(updated to add analyst comment)

Deutsche Bank downgraded F5 Networks (NASDAQ: FFIV) from Hold to Sell with a price target of $100.00 (from $120.00).

Analyst Dr. Vijay Bhagavath comments "Ours is a Fundamental Call into FY18 (not a conviction call on the Mar Q report). We are calling for -30% downside to current levels. Our SELL FFIV thesis argues for deceleration in Product and Services revenues into FY18; headwinds from: 1) Cloud Load Balancers from AWS, Azure, GCP meaningfully improving in Price/Performance (INTC Skylake refresh as a catalyst); 2) FFIV selling mainly into “North South” versus “East West” load balancing (East West traffic seeing exponential growth); 3) FFIV’s Cloud Security opportunity competed away by AKAM, CSCO (DB View)."

He lowers his FY 2017 EPS estimate from $8.10 to $8.08, lowers FY 2018 EPS from $8.71 to $8.50 and keeps FY 2019 EPS at $8.75.

For an analyst ratings summary and ratings history on F5 Networks click here. For more ratings news on F5 Networks click here.

Shares of F5 Networks closed at $147.13 yesterday.



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