Description
Against the backdrop of the continued tough competition, F5 delivered an all-around beat in the recent result. The company experienced more pervasive deal delays and heightened budget in the quarter across all geographies. As per the expectation in the quarter, software renewals performed largely. Improving supply chain conditions helped the company’s hardware revenue in the quarter. A healthcare customer, in this quarter, selected F5’s API protection solution and managed a web application firewall after the proof-of-concept evaluation against both their cloud-native solution and an incumbent CDN provider. F5 continued to drive good traction with its next-generation hardware platforms, VELOS, and rSeries. Among new launches, F5 launched a cloud workload protection solution named F5 Distributed Cloud AIP (App Infrastructure Protection) to accelerate application protection and observability to cloud-native infrastructures. We provide the stock of F5 with a ‘Hold’ rating with a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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