F5 Networks price target raised to $204 from $185 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on F5 Networks to $204 from $185 and keeps a Sector Perform rating on the shares. The company’s Q1 results were solid, with profitability nicely ahead of expectations and encouraging commentary around stabilizing demand trends, the analyst tells investors in a research note. RBC adds that sentiment around the macro environment has also improved as management noted better customer predictability, improved pipeline trends, and more tech refresh activity.