Piper Sandler analyst James Fish raised the firm’s price target on F5 Networks to $163 from $143 and keeps a Neutral rating on the shares. The company’s results came in better than feared, though upside quality was mixed given Services drove the beat rather than Product, Software declined but beat, and Systems grew but missed handily, the analyst tells investors in a research note. However, Piper found it encouraging that F5’s recurring software returned to growth after two quarters of declines and against a tougher compare.
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