JP Morgan lifts F5's PT on expectations of long-term software renewal growth

F5

30/09/2024 11:57

** J.P. Morgan raises price target for cybersecurity and
cloud services firm F5  FFIV.O  to $225, up 4.7% from previous
target of $215
    ** Brokerage says raising PT on account of stronger earnings
multiple reflective of higher confidence in long-term growth
expectations through software renewals
    ** The new price target represents a 2.7% upside to the
stock's last close
    ** Implied upside is modest due to challenging landscape in
relation to enterprise customer spending with limited momentum
in new subscriptions and perpetual software licenses, brokerage
says
    ** 2 of 14 brokerages rate the stock "buy" or higher, 11
"hold" and 1 "sell" or lower; their median PT is $205.20
    ** FFIV up ~22.4% YTD

 (Reporting by Arsheeya Bajwa in Bengaluru)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))