F5 Networks price target lowered to $180 from $200 at Evercore ISI

Evercore ISI analyst Amit Daryanani lowered the firm’s price target on F5 Networks to $180 from $200 and keeps an In Line rating on the shares. The firm thinks investors will “struggle with the trajectory” of software segment performance and the implied strong fiscal Q4 guidance given macro challenges and volatility around software performance. However, the company appears on-track to do greater than $12.75 EPS in FY24 and likely close to $13.50-$14 in FY25, the analyst added.