RBC Capital analyst Matthew Hedberg lowered the firm’s price target on F5 Networks to $155 from $160 and keeps a Sector Perform rating on the shares after its Q1 results and guidance. The company’s earnings call was highlighted by its commentary around heightened budget scrutiny, deal delays, and spending caution resulting in weaker-than-expected software demand, the analyst tells investors in a research note. F5’s profitability remains a bright spot as its management commits to delivering double-digit earnings growth, though the company’s results were overall "mixed" and it faces near-term software headwinds, the firm adds.
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