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Goldman downgrades F5 Networks to sell, says stock could be a reopening loser

Traders work on the floor of the New York Stock Exchange.

NYSE

F5 Networks could struggle to hit its growth targets as workers return to the office after vaccinations, chipping away at a key part of the company’s business, according to Goldman Sachs.

After rising nearly 26% last year, the tech stock has gained about 5% this year, underperforming the broader market.

Analyst Rod Hall downgraded the stock to sell from neutral, saying in a note to clients that the company will struggle to compete with cloud-based companies.

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