F5 Inc (NASDAQ:FFIV) reported better-than-expected third-quarter earnings on Monday.

The company posted quarterly earnings of $4.73 per share which beat the analyst consensus estimate of $4.00 per share. The company reported quarterly sales of $865.007 million which beat the analyst consensus estimate of $832.547 million.

F5 said it sees fourth-quarter adjusted EPS of $4.14-$4.26, versus market estimates of $4.14. The company said it expects sales of $870.000 million-$890.000 million, versus projections of $856.872 million.

“Q3 was another outstanding quarter with 19% product revenue growth driving 11% total revenue growth year over year,” said François Locoh-Donou, F5’s Chairman, President, and CEO. “Eight consecutive quarters of double-digit product growth reflect the mission-critical role F5 plays at the application delivery and security layer of today’s hybrid multicloud and AI-driven enterprise infrastructure.”

F5 shares fell 8.3% to trade at $374.02 on Monday.

These analysts made changes to their price targets on F5 following earnings announcement.

  • Barclays analyst Tim Long maintained the stock with an Equal-Weight rating and raised the price target from $386 to $397.
  • JP Morgan analyst Samik Chatterjee maintained the stock with an Overweight rating and raised the price target from $500 to $515.

Considering buying FFIV stock? Here’s what analysts think:

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