Radware Ltd. (RDWR) to Post FY2016 Earnings of $0.00 Per Share, DA Davidson Forecasts
Radware Ltd. (NASDAQ:RDWR) – DA Davidson cut their FY2016 earnings per share estimates for Radware in a report issued on Monday. DA Davidson analyst M. Kelleher now forecasts that the brokerage will post earnings of $0.00 per share for the year, down from their prior forecast of $0.11. DA Davidson currently has a “Buy” rating and a $15.00 price target on the stock. DA Davidson also issued estimates for Radware’s Q1 2017 earnings at ($0.02) EPS, Q3 2017 earnings at ($0.01) EPS, Q4 2017 earnings at $0.03 EPS, FY2017 earnings at $0.02 EPS and FY2018 earnings at $0.19 EPS.
Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Radware had a net margin of 0.42% and a return on equity of 2.04%. The business earned $49.60 million during the quarter, compared to analyst estimates of $49.57 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was down 11.4% on a year-over-year basis.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Radware from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Radware in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Radware in a research report on Wednesday. Finally, Imperial Capital restated an “outperform” rating and issued a $15.00 price target on shares of Radware in a research report on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.43.
Shares of Radware (NASDAQ:RDWR) traded up 0.16% on Thursday, reaching $12.50. 109,340 shares of the company’s stock traded hands. Radware has a 12-month low of $9.98 and a 12-month high of $16.66. The stock has a 50-day moving average of $13.49 and a 200 day moving average of $12.18. The firm has a market cap of $549.30 million, a P/E ratio of 657.89 and a beta of 1.23.
Several hedge funds have recently modified their holdings of RDWR. Credit Agricole S A raised its stake in shares of Radware by 392.1% in the first quarter. Credit Agricole S A now owns 184,960 shares of the company’s stock worth $2,188,000 after buying an additional 147,374 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Radware by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,723,472 shares of the company’s stock worth $20,389,000 after buying an additional 18,406 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Radware by 104.5% in the first quarter. Geode Capital Management LLC now owns 32,276 shares of the company’s stock worth $381,000 after buying an additional 16,490 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Radware by 338.5% in the first quarter. Renaissance Technologies LLC now owns 121,900 shares of the company’s stock worth $1,442,000 after buying an additional 94,100 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Radware by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 39,233 shares of the company’s stock worth $442,000 after buying an additional 4,907 shares in the last quarter. 63.27% of the stock is 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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