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

Rafael Henrique | LightRocket | Getty Images

F5 Networks could struggle to hit its growth targets as workers return to the office after vaccinations, chipping away at a key part of its 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 F5 will struggle to compete with cloud-based companies.

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