Radware Ltd. (RDWR) Expected to Post Quarterly Sales of $63.41 Million

Equities research analysts predict that Radware Ltd. (NASDAQ:RDWR) will post $63.41 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Radware’s earnings, with the lowest sales estimate coming in at $63.23 million and the highest estimate coming in at $63.50 million. Radware reported sales of $58.45 million in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 6th.

On average, analysts expect that Radware will report full-year sales of $234.01 million for the current year, with estimates ranging from $233.82 million to $234.10 million. For the next financial year, analysts forecast that the business will report sales of $256.51 million, with estimates ranging from $253.00 million to $258.43 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Radware.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, November 7th. The information technology services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Radware had a return on equity of 1.81% and a net margin of 2.58%. The company had revenue of $58.80 million for the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year.

Several brokerages recently commented on RDWR. Zacks Investment Research upgraded Radware from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Saturday, November 10th. BidaskClub upgraded Radware from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. Berenberg Bank began coverage on Radware in a research report on Thursday, November 29th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Oppenheimer set a $30.00 target price on Radware and gave the company a “buy” rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $29.00.

A number of hedge funds have recently bought and sold shares of the stock. Senvest Management LLC raised its stake in Radware by 1.3% during the 2nd quarter. Senvest Management LLC now owns 5,966,192 shares of the information technology services provider’s stock worth $150,825,000 after buying an additional 77,640 shares during the period. Cadian Capital Management LP raised its stake in Radware by 22.7% during the 2nd quarter. Cadian Capital Management LP now owns 3,628,284 shares of the information technology services provider’s stock worth $91,723,000 after buying an additional 671,149 shares during the period. Acadian Asset Management LLC raised its stake in Radware by 155.3% during the 3rd quarter. Acadian Asset Management LLC now owns 1,792,713 shares of the information technology services provider’s stock worth $47,451,000 after buying an additional 1,090,520 shares during the period. Renaissance Technologies LLC raised its stake in Radware by 12.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,455,200 shares of the information technology services provider’s stock worth $38,519,000 after buying an additional 160,000 shares during the period. Finally, Legal & General Group Plc raised its stake in Radware by 26.9% during the 2nd quarter. Legal & General Group Plc now owns 1,027,907 shares of the information technology services provider’s stock worth $25,986,000 after buying an additional 217,858 shares during the period. 67.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Radware stock traded down $0.55 on Thursday, hitting $22.38. 247,032 shares of the company’s stock traded hands, compared to its average volume of 209,449. Radware has a one year low of $18.00 and a one year high of $28.50. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -186.50, a PEG ratio of 5.40 and a beta of 1.04.

Radware Company Profile

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in virtual, cloud, and software defined data centers worldwide. The company offers application and network security solutions, such as DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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