A key item on F5's (NASDAQ:FFIV)
management to-do list for 2014 was to make convincing progress with
software and hardware offerings that continue to expand the company's
total addressable market beyond its legacy application delivery
controllers (or ADCs). So far, so good, as F5 has seen strong interest
in its security offerings while continuing to build out a comprehensive
array of offerings for the service provider market. I'm a little more
cautious now given the valuation, but five straight beat-and-raise
quarters shouldn't be overlooked and the valuation is not extreme or out
of line relative to the opportunities.
Follow this link for more:
F5 Networks Executing Well And Building Out The TAM
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