F5 Networks price target lowered to $169 from $211 at Loop Capital

Loop Capital analyst Fahad Najam lowered the firm’s price target on F5 Networks to $169 from $211 but keeps a Buy rating on the shares. The analyst notes that his long-term view regarding F5’s overall position and revenue mix from the emerging modern application infrastructure and security market opportunity has changed in the current environment, though he still believes that F5 shares are trading at a significant discount, which is "entirely due to management’s lack of disclosures and greater transparency around its software business". Najam adds that while he remains disappointed that F5 has not yet fully realized the potential and maximum synergies from its NGNIX, Shape Security, and Volterra acquisitions, he believes that the opportunity is "still ahead".