F5 Networks price target raised to $235 from $220 at Needham

Needham analyst Alex Henderson raised the firm’s price target on F5 Networks to $235 from $220 and keeps a Buy rating on the shares. Macro pressure and relatively cautious management guidance seemed to have put F5 into the penalty box ahead of its Q3 results, but instead, the company solidly beat estimates and offered guidance well above the Street expectations, the analyst tells investors in a research note. F5 noted a strengthening pipeline and improving closure rates while also calling out increasing conviction for Software growth, the firm added.