Consensus sales and EPS estimates for Cisco Systems (CSCO) are too low, says Citigroup, which initiated coverage on F5 Networks with a sell rating and Juniper Networks with a neutral stock recommendation. Citigroup analyst Jim Suva set a target price of 30 on Cisco, a 12% premium to its closing price on Monday. Suva put a price target of 105 on F5 Networks (FFIV). Seattle-based F5 is the No. 1 seller of application delivery controllers, which
Shares of five tech stocks — including one Apple (AAPL) supplier — are abuzz late Wednesday following a slew of view-topping earnings results. Cybersecurity firm Fortinet (FTNT) spiked 9% in extended trading, after reporting flat year-over-year Q2 earnings of 11 cents a share that managed to beat forecasts by 2 cents. Sales climbed 30% to $239.8 million vs. views for $222.7 million. F5 Networks (FFIV) also rose in late trading as the data-center
F5 Networks (FFIV) late Wednesday reported fiscal Q3 earnings and revenue above expectations, sending the data center gear maker’s stock up in after-hours trading. Seattle-based F5 Networks said that it earned $1.67 per share in the June quarter, up 20% from the year-earlier period. Revenue rose 10% to $483.6 million. Analysts had modelled EPS of $1.59 on revenue of $481 million. F5 Networks stock was up more than 6% in after-hours trading after