F5 extends declines after cyber-security breach

ReutersReuters

** Shares of cyber-security provider F5 FFIV fall ~8 to $305.76

** Stock falls for second straight day, hitting over one-month low

** FFIV disclosed a nation-state hack on Wednesday, but said the breach did not affect its operations

** Bloomberg reported late on Wednesday the breach at F5 has been blamed on state-backed hackers from China

** Representatives for F5 told customers hackers were in its network for at least 12 months – Bloomberg report

** 2 of 14 brokerages covering the stock recommend a rating of “sell” or higher, 11 recommend “hold”, while 1 recommends “sell”; stock has a median PT of $339.77 – LSEG

** Including session’s losses, stock is up ~22% YTD

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