F5 Networks price target raised to $240 from $205 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on F5 Networks (FFIV) to $240 from $205 but keeps a Sector Perform rating on the shares after its Q4 earnings beat. The company closed out its fiscal year on a solid note, with top-line and bottom-line metrics coming ahead of consensus and the high-end of guidance, and its initial FY25 guide was ahead of expectations, but while RBC is encouraged with the consistency of results and increased outlook, the firm is also mindful of the second half weighting of the year, new business expectations, and the stock’s valuation, the analyst tells investors in a research note.