Wunderlich Maintains Hold on F5 Networks (FFIV)

Wunderlich is out with its report today on F5 Networks (NASDAQ: FFIV), maintaining Hold.

In a note to clients, Wunderlich writes, "Yesterday, after the close, F5 Networks reported 2Q11 earnings above consensus on a tax rate that was 160 basis points below guidance and, relative to our slightly lower top-line forecast, service revenue. Operating profit exceeded our estimate by 2.2%. Our forecast changes amount to fine tuning of similar magnitude. We maintain our Hold rating and $115 price target on FFIV shares."

At the time of posting, shares of FFIV were trading pre-market at $111.05, up 11.34% from Wednesday's close.