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

Evercore ISI raised the firm’s price target on F5 Networks to $200 from $180 and keeps an In Line rating on the shares after the company reported “solid” December-end quarter revenue and EPS that beat Street expectations. While the firm thinks investors will struggle with the trajectory of software segment performance and the company’s ability to sustain greater than 30% EBIT margins, it adds that the company appears on-track to do over $12.50 EPS in FY24 and likely close to $13.50-$14 in FY25.