RBC Capital analyst Matthew Hedberg raised the firm's price target on F5 to $375 from $345 and keeps an Outperform rating on the shares. The company delivered a strong beat and raise quarter as results were driven by hybrid multi-cloud adoption, continued refresh momentum, an enterprise AI adoption that appears to be hitting an inflection point with new AI use cases and strength in the global PubSec business, the analyst tells investors in a research note. Despite the rally in shares, the stock has additional room to run due to both upside to estimates and multiple expansion, the firm added.
