Shares of F5 Networks Inc. shot higher in premarket trading Thursday, a day after the company posted a first-quarter profit that meet Wall Street estimates and guided third-quarter results in line with expectations.
F5 shares added $2.19, or 9.9 percent, to $24.38.
In a note to investors, Oppenheimer analyst Ittai Kidron said he was impressed with F5's results, which he said defied "all expectations." Kidron reiterated his "Outperform" rating and $25 price target on the Seattle company.
Separately, Banc of America Securities analyst Tim Long reiterated his "Buy" rating, and said the company's next-quarter guidance seemed conservative.
However, Long said the company's weak product sales could be a cause for concern, and lowered his 2008 earnings estimate to 88 cents per share from 96 cents.
Analysts polled by Thomson Financial expect earnings of 87 cents per share, on average, for 2008.
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