Radware (RDWR) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Radware (NASDAQ:RDWR) released its quarterly earnings data on Wednesday. The information technology services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02, Briefing.com reports. Radware had a negative net margin of 5.74% and a negative return on equity of 2.27%. The business had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $55.93 million. During the same period in the previous year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis.

Shares of Radware (NASDAQ RDWR) traded up $0.09 on Thursday, reaching $20.79. 183,598 shares of the company were exchanged, compared to its average volume of 176,017. Radware has a 52-week low of $15.13 and a 52-week high of $21.26. The stock has a market capitalization of $850.03, a PE ratio of -80.50, a PEG ratio of 48.69 and a beta of 1.00.

A number of equities research analysts recently weighed in on the stock. Barclays set a $24.00 price target on shares of Radware and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC boosted their price target on shares of Radware from $23.00 to $24.50 and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised shares of Radware from a “strong sell” rating to a “sell” rating in a research report on Monday. Dougherty & Co reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Radware in a research report on Thursday, February 1st. Finally, Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.07.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AXA lifted its position in Radware by 8.8% in the third quarter. AXA now owns 321,000 shares of the information technology services provider’s stock valued at $5,412,000 after acquiring an additional 26,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Radware in the third quarter valued at about $234,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Radware in the third quarter valued at about $305,000. Granahan Investment Management Inc. MA raised its holdings in shares of Radware by 4.2% in the third quarter. Granahan Investment Management Inc. MA now owns 128,028 shares of the information technology services provider’s stock valued at $2,159,000 after buying an additional 5,116 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Radware in the third quarter valued at about $507,000. 61.44% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History for Radware (NASDAQ:RDWR)

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