F5

FFIV · NASDAQ

$456.71+$5.91 (+1.31%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $450.80

FFIV analyst rating

HoldConsensus of 10 analysts over the last 12 months. 40% rate it a buy.

Strong buy0
Buy4
Hold5
Underperform1
Sell0

12-month price target · 13 analysts

Average $431.74 (−5.5% downside)

Low: $303.00
Now: $456.71
High: $533.40

Upgrades and downgrades

The latest rating actions, newest first

FFIV analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 12, 2026	Maintains	Outperform	$508.00 → $525.00	61%
Morgan Stanley	Jul 28, 2026	Maintains	Equal-Weight	$380.00 → $415.00	62%
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$423.00 → $461.00	51%
JP Morgan	Jul 28, 2026	Maintains	Overweight	$500.00 → $515.00	70%
Barclays	Jul 28, 2026	Maintains	Equal-Weight	$386.00 → $397.00	58%
RBC Capital	Jun 9, 2026	Maintains	Outperform	$425.00 → $450.00	61%
Barclays	May 29, 2026	Maintains	Equal-Weight	$292.00 → $386.00	58%
RBC Capital	May 29, 2026	Maintains	Outperform	$425.00	61%
Piper Sandler	May 29, 2026	Maintains	Overweight	$356.00 → $423.00	51%
B of A Securities	May 26, 2026	Maintains	Underperform	$250.00 → $300.00	60%

The case for and against

Updated Oct 14, 2026

Bull case

F5 is supported by a stronger fundamental setup driven by secular demand in hybrid multicloud, AI security, and application delivery, where its market leadership in ADCs and broad installed base create durable share-gain opportunities. Over the last six years, it delivered 6% average revenue growth and 11% EPS CAGR while expanding operating margins nearly 480 bps to 35.2%, and management now points to FY/29 revenue growth, mid-to-upper 30s operating margins, and double-digit EPS growth versus FY/26. The thesis is further reinforced by a $15B TAM in CY/25 rising to $28B by CY/30, or roughly $40B including AI use cases, as software adoption shifts revenue mix toward higher-value products and cross-selling deepens with enterprises, service providers, and government customers.

Bear case

F5 is facing a weaker fundamental setup because its downside case assumes EPS growth 250 bps below current CY/26-27 estimates, reflecting pressure from carrier capex push-outs, prolonged integration efforts, and a less robust macro backdrop. Competitive risks are also elevated, with the October 2025 security incident, price-aggressive rivals, weaker-than-expected security product adoption, delayed product launches, and possible market share losses in the ADC market all threatening growth and investor confidence. Although systems revenue may benefit from refresh demand and displacement of Citrix/Netscaler, the long-run shift away from appliances toward cloud-based services implies Systems will keep declining as a share of revenue, limiting mix improvement and sustainability.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.