Brokers Set Expectations for Radware Ltd.’s FY2019 Earnings (RDWR)
Radware Ltd. (NASDAQ:RDWR) – Analysts at Dougherty & Co issued their FY2019 earnings estimates for Radware in a research note issued on Thursday. Dougherty & Co analyst C. Trebnick forecasts that the information technology services provider will post earnings of $0.15 per share for the year. Dougherty & Co has a “Buy” rating and a $24.00 price objective on the stock.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Radware from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays set a $24.00 price target on Radware and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Needham & Company LLC raised their price target on Radware from $23.00 to $24.50 and gave the stock a “buy” rating in a research report on Thursday. Finally, BidaskClub upgraded Radware from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. Radware currently has an average rating of “Buy” and a consensus target price of $22.07.
Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $58.50 million during the quarter, compared to the consensus estimate of $55.93 million. Radware had a negative return on equity of 1.77% and a negative net margin of 3.55%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS.
A number of institutional investors and hedge funds have recently modified their holdings of RDWR. JPMorgan Chase & Co. lifted its position in Radware by 122.8% in the second quarter. JPMorgan Chase & Co. now owns 92,463 shares of the information technology services provider’s stock worth $1,622,000 after buying an additional 50,955 shares during the last quarter. Wells Fargo & Company MN increased its stake in Radware by 8.3% in the second quarter. Wells Fargo & Company MN now owns 54,877 shares of the information technology services provider’s stock worth $963,000 after purchasing an additional 4,217 shares during the period. Ameriprise Financial Inc. purchased a new stake in Radware in the second quarter worth $1,369,000. Vanguard Group Inc. increased its stake in Radware by 24.1% in the second quarter. Vanguard Group Inc. now owns 15,950 shares of the information technology services provider’s stock worth $279,000 after purchasing an additional 3,101 shares during the period. Finally, California Public Employees Retirement System increased its stake in Radware by 2.2% in the second quarter. California Public Employees Retirement System now owns 188,600 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,100 shares during the period. Institutional investors own 61.45% of the company’s stock.
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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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