Rohit Chopra, analyst at Wedbush Morgan recommended buying shares of F5 Networks:

a. Buy rating is based on checks which point to better-than-expected execution this quarter despite the weak macro environment. Our data points suggest that this may be a sustained improvement driven primarily by the company’s growth platforms.

b. F5’s earlier investment in sales and a new-product cycle may be paying off; reasserting growth in its core products as well as its traction in its high-value-growth platforms.  An integrated software and hardware solution, the core product, essentially manages traffic to servers and other devices in order to deliver maximum efficiency, throughput, and availability.

c. checks with resellers are indicating that sales generally tracked above plan this quarter. Our sources suggest that quarter ended surprisingly well despite a cautious spending environment, driven by solid demand in both the U.S. and Asia Pacific. Europe and Japan appeared to have been on plan. Channel sources also indicate that the company did not engage in significant discounting this quarter.

d. price target is $37

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