RBC says ‘early to tell’ what impacts may come from F5 breach

RBC Capital notes that F5 (FFIV) disclosed via an 8K on October 15 that the company learned on August 9 that a nation-state threat actor gained long-term persistent access to some company systems as part of a material security incident. The firm, which says it is “early to tell what impacts may come to results, customer behavior or legal scrutiny,” doesn’t see a risk to Q4 results, but believes this incident could drive some conservatism in FY26 guidance. The firm, which adds that it worries about “the unknown impacts given the long-term access by the threat actor to undisclosed vulnerabilities along with the BIG-IP development environment,” has a Sector Perform rating and $350 price target on F5 shares.