F5 Networks, Inc. (FFIV) Message Board

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Technology Stocks : F5 Networks, Inc. (FFIV)

FFIV 252.94

-1.5%

Oct 31 3:59 PM EST

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To: JakeStraw who wrote (1654)	4/23/2009 1:36:03 PM
From: Moonray	of 1801

F5: UBS Cuts Rating To Sell On Valuation Basis April 23, 2009, 12:16 pm - Posted by Eric Savitz F5 (FFIV) shares are coming under pressure this morning from a downgrade of the stock by UBS analyst Nikos Theodosopoulos, who cut his rating to Sell from Neutral, while maintaining his $24 price target. The stock closed yesterday at $26.94. “F5 is a solid company…management has executed well, preserving the model during the downturn,” he writes. “That said…F5’s valuation has become too stretched,” trading at 24x his calendar 2010 EPS estimate. Theodosopoulos says “F5 may need higher growth to support its multiple, which may be constrained by a softer market outlook near-term.” He maintains his EPS estimates of $1.08 a share for the September 2009 fiscal year, $1.11 for FY 2010 and $1.24 for FY 2011. The downgrade today follows the company’s earnings report yesterday afternoon; while Q2 results were in line, guidance for Q3 was slightly below expectations. FFIV today is off $2.13, or 7.9%, to $24.81. o~~~ O

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