Analyst Consensus ?
ConsensusHold60 ratings
Bullish2541.7%
Neutral3253.3%
Bearish35.0%
1 unmapped firm rating excluded from the percentages.
F5, Inc. · FFIV · FY2025 Q2 · Calendar Q2 2025
F5 raises FY25 outlook as AI and hardware demand support growth
The supplied analysis supports a constructive but qualified view: F5's raised outlook, systems growth, modernization demand, and AI product rollout provide evidence of operating momentum, while renewal timing, refresh-cycle normalization, and macro uncertainty limit confidence in the durability of that growth.
Reported After market closeNASDAQTechnology
$25.85B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $3.10
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $719.7M
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-0.9%
Event window
SPY move
+0.6%
Same window
Abnormal move
-1.5%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+7.8%
Up to 20 sessions
FFIVSPY benchmark
Ask FN2 about FFIV FY2025 Q2
Transcript, numbers and history already loaded
What drove FFIV's -0.9% move after FY2025 Q2 earnings?What changed in FFIV's guidance and outlook in FY2025 Q2?Give me the bull and bear case for FFIV after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
F5 moved from a prior quarter marked by strong software subscriptions, hardware refresh demand, and emerging AI opportunities to a quarter featuring ADSP general availability and new AI capabilities. Management also raised FY25 revenue guidance to 6.5%-7.5% and increased its EPS growth outlook.
Guidance delta
Management raised FY25 revenue growth guidance to 6.5%-7.5% and increased its EPS growth outlook.
Key takeaways
- Revenue grew 7% year over year, with strong systems growth and product-revenue acceleration.
- F5 launched its Application Delivery and Security Platform and expanded AI-focused capabilities, including AI Gateway.
- Management linked demand to hybrid multi-cloud modernization, AI workloads, hardware refresh, and competitive displacement.
- The outlook remained positive, while software renewal timing and macro uncertainty were identified as constraints.
Management priorities
- Expand ADSP functionality and AI-driven analytics across environments.
- Roll out AI Gateway and broaden AI assistant coverage across BIG-IP and related products.
- Pursue AI workload use cases while continuing legacy ADC and DDoS competitive displacement.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$456.58Previous close
$175Low
$283.43Average
$475High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 16, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Oct 12, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 28, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 28, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 28, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 28, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | May 26, 2026 |
| Evercore ISI Group | Outperform | In Line | Upgrade | May 18, 2026 |
| Needham | Hold | Hold | Maintain | Apr 29, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jan 28, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jan 18, 2024 |
| TD Cowen | Outperform | Outperform | Maintain | Apr 20, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 20, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 25, 2023 |
| Loop Capital | Buy | Buy | Maintain | Jan 18, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Jul 14, 2022 |
| MKM Partners | Buy | Neutral | Upgrade | Oct 23, 2020 |
| Wolfe Research | Outperform | Outperform | Maintain | Jul 24, 2020 |
| Nomura Instinet | Buy | Buy | Maintain | Apr 28, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 28, 2020 |
| Bank of America | Underperform | Buy | Downgrade | Dec 5, 2019 |
| Piper Jaffray | Overweight | Neutral | Upgrade | Sep 9, 2019 |
| PiperJaffray | Neutral | Underweight | Upgrade | Mar 29, 2019 |
| William Blair | Market Perform | Outperform | Downgrade | Jan 17, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 25, 2018 |
| Standpoint Research | Buy | Hold | Upgrade | Oct 12, 2018 |
| DA Davidson | Neutral | Buy | Downgrade | May 16, 2018 |
| Deutsche Bank | Sell | Sell | Maintain | Oct 3, 2017 |
| Wells Fargo | Market Perform | Outperform | Downgrade | Jul 27, 2017 |
| Oppenheimer | Market Perform | Outperform | Downgrade | Jul 27, 2017 |
| Bernstein | Market Perform | Outperform | Downgrade | Nov 30, 2016 |
| Wunderlich Securities | Hold | Hold | Maintain | Oct 27, 2016 |
| Wunderlich | Hold | Hold | Maintain | Oct 27, 2016 |
| Pacific Crest | Overweight | Downgrade | May 17, 2016 | |
| Buckingham Research | Neutral | Neutral | Maintain | Apr 21, 2016 |
| Baird | Neutral | Neutral | Maintain | Apr 21, 2016 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Jan 21, 2016 |
| Jefferies | Hold | Hold | Maintain | Jan 21, 2016 |
| Sterne Agee CRT | Neutral | Buy | Downgrade | Jan 15, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Jan 15, 2016 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Nov 13, 2015 |
| Raymond James | Perform | Market Perform | Maintain | Sep 25, 2015 |
| Guggenheim | Neutral | Neutral | Maintain | Sep 22, 2015 |
| Wedbush | Outperform | Outperform | Maintain | Mar 4, 2015 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Jan 22, 2015 |
| Stifel | Hold | Buy | Downgrade | Jan 22, 2015 |
| Cantor Fitzgerald | Buy | Buy | Maintain | Oct 29, 2014 |
| ISI Group | Strong Buy | Buy | Upgrade | Aug 19, 2014 |
| UBS | Neutral | Neutral | Maintain | Jul 24, 2014 |
| D.A. Davidson | Buy | Buy | Maintain | Jul 9, 2014 |
| Northland | Perform | Market Perform | Maintain | Apr 4, 2014 |
| Dougherty | Buy | Buy | Maintain | Feb 10, 2014 |
| McAdams Wright Ragen | Hold | Buy | Downgrade | Jan 23, 2014 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Jan 22, 2014 |
| Janney Capital | Buy | Neutral | Upgrade | Jan 22, 2014 |
| FBR Capital | Market Perform | Outperform | Downgrade | Apr 26, 2013 |
| Topeka Capital | Hold | Buy | Downgrade | Apr 5, 2013 |
| Topeka | Hold | Buy | Downgrade | Apr 5, 2013 |
| Craig-Hallum | Buy | Buy | Maintain | Apr 3, 2013 |
| FBN Securities | Sector Perform | Sector Perform | Maintain | Jan 25, 2013 |
| Miller Tabak | Buy | Buy | Maintain | Apr 19, 2012 |
| Bank oferica | Buy | Buy | Maintain | Apr 3, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $456.58. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | James Fish | $461 | $402.12 | +1.0% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $397 | $407.96 | -13.0% | Jul 28, 2026 |
| BOCOM International Holdings Company | Analyst unavailable | $300 | $407.96 | -34.3% | Jul 28, 2026 |
| RBC Capital | Matthew Hedberg | $450 | $396.19 | -1.4% | Jun 9, 2026 |
| Evercore ISI | Analyst unavailable | $475 | $362.58 | +4.0% | May 18, 2026 |
| Barclays | Analyst unavailable | $292 | $303.79 | -36.0% | Apr 29, 2026 |
| RBC Capital | Matthew Hedberg | $345 | $293.93 | -24.4% | Jan 28, 2026 |
| RBC Capital | Matthew Hedberg | $325 | $256.63 | -28.8% | Jan 5, 2026 |
| Piper Sandler | Analyst unavailable | $295 | $256.63 | -35.4% | Jan 5, 2026 |
| Piper Sandler | James Fish | $277 | $265.13 | -39.3% | Oct 28, 2025 |
| Morgan Stanley | Analyst unavailable | $352 | $342.35 | -22.9% | Oct 10, 2025 |
| Barclays | Tim Long | $321 | $298.99 | -29.7% | Jul 31, 2025 |
| RBC Capital | Matthew Hedberg | $310 | $300.46 | -32.1% | Jan 29, 2025 |
| Bank of America Securities | Tal Liani | $180 | $240.54 | -60.6% | Oct 29, 2024 |
| Piper Sandler | James Fish | $246 | $218.36 | -46.1% | Oct 29, 2024 |
| RBC Capital | Matthew Hedberg | $240 | $218.36 | -47.4% | Oct 29, 2024 |
| Goldman Sachs | Michael Ng | $241 | $218.36 | -47.2% | Oct 29, 2024 |
| Jefferies | George Notter | $225 | $218.36 | -50.7% | Oct 29, 2024 |
| Evercore ISI | Amit Daryanani | $240 | $218.36 | -47.4% | Oct 29, 2024 |
| Goldman Sachs | Michael Ng | $212 | $220.38 | -53.6% | Sep 23, 2024 |
| Needham | Alex Henderson | $235 | $196.98 | -48.5% | Jul 30, 2024 |
| J.P. Morgan | Samik Chatterjee | $215 | $197.06 | -52.9% | Jul 30, 2024 |
| Piper Sandler | James Fish | $186 | $200.66 | -59.3% | Jul 30, 2024 |
| RBC Capital | Matthew Hedberg | $205 | $177.59 | -55.1% | Jul 30, 2024 |
| Evercore ISI | Amit Daryanani | $210 | $177.59 | -54.0% | Jul 30, 2024 |
| Needham | Alex Henderson | $220 | $178.34 | -51.8% | Jul 29, 2024 |
| Piper Sandler | James Fish | $167 | $165.31 | -63.4% | Apr 30, 2024 |
| Evercore ISI | Amit Daryanani | $180 | $182.13 | -60.6% | Apr 30, 2024 |
| Mizuho Securities | Anthony Petrone | $190 | $192.44 | -58.4% | Apr 11, 2024 |
| Needham | Alex Henderson | $180 | $158.98 | -60.6% | Jul 25, 2023 |
| Needham | Alex Henderson | $151.5 | $71.81 | -66.8% | Sep 23, 2022 |
| RBC Capital | Matthew Hedberg | $175 | $165.5 | -61.7% | Jul 28, 2022 |
| Piper Sandler | James Fish | $197 | $170.49 | -56.9% | Apr 29, 2022 |
| Morgan Stanley | Analyst unavailable | $235 | $193.91 | -48.5% | Apr 27, 2022 |
| Credit Suisse | Analyst unavailable | $225 | $169.16 | -50.7% | Apr 27, 2022 |
| RBC Capital | Analyst unavailable | $200 | $193.91 | -56.2% | Apr 27, 2022 |
| Citigroup | Jim Suva | $210 | $202.49 | -54.0% | Jan 26, 2022 |
| Colliers Securities | Catharine Trebnick | $275 | $202.49 | -39.8% | Jan 26, 2022 |
| RBC Capital | Matthew Hedberg | $210 | $202.49 | -54.0% | Jan 26, 2022 |
| Credit Suisse | Sami Badri | $270 | $202.49 | -40.9% | Jan 26, 2022 |
| KeyBanc | Thomas Blakey | $307 | $223.5 | -32.8% | Jan 18, 2022 |
| Morgan Stanley | James Faucette | $280 | $235.89 | -38.7% | Dec 15, 2021 |
| Goldman Sachs | Rod Hall | $175 | $216.02 | -61.7% | Oct 27, 2021 |
Track every rating change on FFIV the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationF5, Inc. is a technology company specializing in comprehensive solutions designed to secure and optimize the delivery of applications across various cloud environments. Their core mission is to guarantee the security, peak performance, and constant availability of critical network applications, servers, and storage systems for their clients. Through their multi-cloud offerings, F5 empowers organizations to seamlessly develop, deploy, operate, secure, and govern their applications, whether these reside in traditional on-premises infrastructures or modern public cloud platforms. The company's extensive product portfolio includes a range of application security and delivery tools: Robust hardware like BIG-IP appliances and VIPRION chassis, complemented by their software modules and virtual editions. Software-defined solutions such as Local Traffic Manager and DNS Services for efficient traffic handling. Advanced network protection with Advanced Firewall Manager and Policy Enforcement Manager.…
Historical context
All FFIV earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| WIT Wipro Limited | FY2027 Q2 · Calendar Q4 2026 | -25.0% | +3.9% | Wipro: AI pipeline expands as Q3 guidance stays narrow |
| TSM Taiwan Semiconductor Manufacturing Company Limited | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -1.8% | TSMC beats Q3 guidance as AI demand drives fab expansion |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | FY2026 Q3 · Calendar Q4 2026 | +28.6% | +11.8% | Ericsson Q3: 7% organic growth, resilient margins and AI-led demand |
| ASML ASML Holding N.V. | FY2026 Q3 · Calendar Q4 2026 | +20.4% | -3.9% | ASML: Record Q3, strong AI demand and broader capacity plans |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-04-14T00:04:42.211827+00:00
- Polygon adjusted daily market bars · 2026-10-16T07:30:43.238461+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T07:30:43.235605+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-16. For educational purposes only; not investment advice.