F5 Networks price target raised to $220 from $200 at Needham

Needham raised the firm’s price target on F5 Networks to $220 from $200 and keeps a Buy rating on the shares. The company reported a better than expected Q1 with in-line guidance but sounded better on the call than they have for a number of quarters, citing signs of customer stabilization, improving underlying pipeline demand, and more hybrid architecture demand for multi-cloud, the analyst tells investors in a research note. F5 Networks left the full year Revenue and Operating Profit targets unchanged, but it was clear the bias is more to the upside, the firm added.