Radware Ltd. (NASDAQ:RDWR) released its quarterly earnings results on Wednesday. The information technology services provider reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01, Briefing.com reports. The firm had revenue of $53.05 million during the quarter, compared to analyst estimates of $52.07 million. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Radware updated its Q4 guidance to $0.06-0.07 EPS.
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A hedge fund recently raised its stake in Radware stock. Vanguard Group Inc. lifted its stake in Radware Ltd. (NASDAQ:RDWR) by 24.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,950 shares of the information technology services provider’s stock after purchasing an additional 3,101 shares during the period. Vanguard Group Inc.’s holdings in Radware were worth $279,000 at the end of the most recent quarter. 60.71% of the stock is owned by institutional investors.
Several research analysts have recently commented on RDWR shares. Imperial Capital reissued an “outperform” rating and issued a $21.00 price target (up from $20.00) on shares of Radware in a research report on Thursday, August 10th. BidaskClub raised Radware from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Zacks Investment Research raised Radware from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of Radware in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Radware in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.36.
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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