F5 Networks price target lowered to $143 from $156 at Piper Sandler

Piper Sandler analyst James Fish lowered the firm’s price target on F5 Networks to $143 from $156 and keeps a Neutral rating on the shares. The stock is trading lower on the material software miss, greater use of backlog flush than anticipated, deal delay commentary, and the guide cutting growth from 10% to 4%, the analyst tells investors in a research note. The firm says investors will be discouraged by F5’s software transition "fizzling out" and systems backlog nearing normalization into a tougher environment.