DA Davidson Weighs in on Radware Ltd.’s Q3 2016 Earnings (RDWR)
Radware Ltd. (NASDAQ:RDWR) – Analysts at DA Davidson reduced their Q3 2016 earnings estimates for shares of Radware in a note issued to investors on Monday. DA Davidson analyst M. Kelleher now expects that the brokerage will earn ($0.01) per share for the quarter, down from their previous 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 earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, topping 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 the consensus estimate of $49.57 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis.
Several other brokerages have also recently issued reports on RDWR. Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, September 28th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Radware in a research note on Wednesday. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Radware in a research note on Monday. Finally, Imperial Capital reissued an “outperform” rating and set a $15.00 price objective on shares of Radware in a research note on Monday, July 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.43.
Shares of Radware (NASDAQ:RDWR) traded down 0.79% on Wednesday, reaching $12.51. The company had a trading volume of 91,906 shares. The firm’s 50 day moving average is $13.53 and its 200 day moving average is $12.17. The firm has a market capitalization of $549.74 million, a PE ratio of 658.42 and a beta of 1.23. Radware has a 12 month low of $9.98 and a 12 month high of $16.66.
Institutional investors have recently modified their holdings of the company. Harber Asset Management LLC purchased a new position in shares of Radware during the second quarter worth approximately $2,291,000. State Street Corp raised its position in shares of Radware by 125.2% in the second quarter. State Street Corp now owns 161,375 shares of the company’s stock worth $1,817,000 after buying an additional 89,717 shares in the last quarter. Sirios Capital Management L P raised its position in shares of Radware by 1.5% in the second quarter. Sirios Capital Management L P now owns 1,564,059 shares of the company’s stock worth $17,611,000 after buying an additional 22,653 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Radware by 51.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 208,589 shares of the company’s stock worth $2,349,000 after buying an additional 71,217 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new position in shares of Radware during the second quarter worth approximately $114,000. Hedge funds and other institutional investors own 63.27% of the company’s stock.
Radware Company Profile
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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