Radware (RDWR) Announces Earnings Results

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Radware (NASDAQ:RDWR) issued its quarterly earnings results on Wednesday. The information technology services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, Briefing.com reports. Radware had a net margin of 0.59% and a return on equity of 0.20%. The firm had revenue of $58.80 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s revenue was up 10.9% on a year-over-year basis.

Shares of Radware stock opened at $25.13 on Friday. The stock has a market cap of $1.05 billion, a P/E ratio of -209.42, a PEG ratio of 8.59 and a beta of 1.09. Radware has a 12-month low of $18.00 and a 12-month high of $28.50.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE increased its position in Radware by 13.1% in the 2nd quarter. US Bancorp DE now owns 23,407 shares of the information technology services provider’s stock valued at $591,000 after acquiring an additional 2,715 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Radware by 80.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the information technology services provider’s stock valued at $168,000 after acquiring an additional 2,959 shares in the last quarter. BlueMountain Capital Management LLC increased its position in Radware by 17.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 36,413 shares of the information technology services provider’s stock valued at $921,000 after acquiring an additional 5,294 shares in the last quarter. Bank of America Corp DE increased its position in Radware by 2.4% in the 2nd quarter. Bank of America Corp DE now owns 240,959 shares of the information technology services provider’s stock valued at $6,092,000 after acquiring an additional 5,569 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Radware by 55.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,744 shares of the information technology services provider’s stock valued at $423,000 after acquiring an additional 5,966 shares in the last quarter. Hedge funds and other institutional investors own 63.23% of the company’s stock.

A number of brokerages have recently issued reports on RDWR. Oppenheimer set a $30.00 price objective on shares of Radware and gave the company a “buy” rating in a research note on Wednesday. BidaskClub upgraded shares of Radware from a “sell” rating to a “hold” rating in a research report on Saturday, September 29th. Barclays reiterated a “buy” rating and set a $30.00 target price on shares of Radware in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Radware from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $28.40.

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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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Earnings History for Radware (NASDAQ:RDWR)

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