Radware Ltd. (NASDAQ:RDWR) – Research analysts at DA Davidson lowered their Q3 2016 earnings estimates for shares of Radware in a report released on Monday. DA Davidson analyst M. Kelleher now anticipates that the firm will post earnings of ($0.01) per share for the quarter, down from their prior estimate of $0.03. DA Davidson has a “Buy” rating and a $15.00 price objective on the stock. DA Davidson also issued estimates for Radware’s Q4 2016 earnings at $0.03 EPS, Q2 2017 earnings at $0.02 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.06 EPS and Q3 2018 earnings at $0.05 EPS.
Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Radware had a return on equity of 2.04% and a net margin of 0.42%. The firm had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $49.57 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Radware’s revenue for the quarter was down 11.4% compared to the same quarter last year.
Other analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Radware in a report on Wednesday. Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, September 28th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Radware in a research report on Monday. Finally, Imperial Capital reissued an “outperform” rating and set a $15.00 target price on shares of Radware in a research report on Monday, July 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.43.
Shares of Radware (NASDAQ:RDWR) opened at 12.48 on Wednesday. Radware has a 52 week low of $9.98 and a 52 week high of $16.66. The firm’s 50-day moving average price is $13.47 and its 200 day moving average price is $12.18. The firm has a market cap of $548.42 million, a PE ratio of 656.84 and a beta of 1.23.
A number of large investors have recently modified their holdings of RDWR. Vanguard Group Inc. acquired a new stake in shares of Radware during the second quarter valued at approximately $114,000. Geode Capital Management LLC raised its position in Radware by 104.5% in the first quarter. Geode Capital Management LLC now owns 32,276 shares of the company’s stock valued at $381,000 after buying an additional 16,490 shares in the last quarter. Bank of New York Mellon Corp raised its position in Radware by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 39,233 shares of the company’s stock valued at $442,000 after buying an additional 4,907 shares in the last quarter. Swiss National Bank raised its position in Radware by 78.8% in the second quarter. Swiss National Bank now owns 65,100 shares of the company’s stock valued at $733,000 after buying an additional 28,700 shares in the last quarter. Finally, Numeric Investors LLC purchased a new position in Radware during the second quarter valued at $752,000. 63.27% of the stock is currently owned by hedge funds and other institutional investors.
Radware Ltd. is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF) and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications.
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