F5 price target raised to $356 from $325 at Piper Sandler

Piper Sandler raised the firm’s price target on F5 (FFIV) to $356 from $325 and keeps an Overweight rating on the shares. “Hybrid multi-cloud, hybrid multi-cloud, and hybrid multi-cloud” was the clear theme of the Q2 call for why F5 is seeing strength, which is only being complemented by the threat landscape and AI inference showing an inflection, the firm says. The “Year of Refresh” is off to a solid start, and Piper believes F5 is one to own on this, its own refresh / EoSS, de-risked estimates, software acceleration, competitive landscape, and AI modernizations.