F5 Networks price target lowered to $274 from $296 at Barclays

Barclays lowered the firm’s price target on F5 Networks (FFIV) to $274 from $296 and keeps an Equal Weight rating on the shares. The company’s March quarter results beat on the top- and bottom-line with Systems showing upside while Software missed estimates, the analyst tells investors in a research note. The firm says that while its estimates moved higher, it recognizes some macro related risk in the second half of the year, where software is expected to get better with hardware declining off the high fiscal Q2 levels.