Radware Ltd. (RDWR) to Post FY2016 Earnings of $0.00 Per Share, DA Davidson Forecasts
Radware Ltd. (NASDAQ:RDWR) – Equities researchers at DA Davidson decreased their FY2016 EPS estimates for Radware in a report released on Monday. DA Davidson analyst M. Kelleher now anticipates that the firm will post earnings of $0.00 per share for the year, down from their prior estimate of $0.11. DA Davidson currently has a “Buy” rating and a $15.00 target price on the stock. DA Davidson also issued estimates for Radware’s Q1 2017 earnings at ($0.02) EPS, Q3 2017 earnings at ($0.01) EPS, Q4 2017 earnings at $0.03 EPS, FY2017 earnings at $0.02 EPS and FY2018 earnings at $0.19 EPS.
Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $49.57 million. Radware had a return on equity of 2.04% and a net margin of 0.42%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Radware from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Radware in a research note on Monday. Imperial Capital reiterated an “outperform” rating and issued a $15.00 price objective on shares of Radware in a research note on Monday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Radware in a research note on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.43.
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Radware (NASDAQ:RDWR) traded up 0.16% during mid-day trading on Thursday, reaching $12.50. The company had a trading volume of 109,340 shares. Radware has a 52-week low of $9.98 and a 52-week high of $16.66. The stock has a market capitalization of $549.30 million, a price-to-earnings ratio of 657.89 and a beta of 1.23. The company’s 50 day moving average is $13.49 and its 200 day moving average is $12.18.
A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Radware by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,723,472 shares of the company’s stock worth $20,389,000 after buying an additional 18,406 shares during the last quarter. Sirios Capital Management L P increased its stake in Radware by 1.5% in the second quarter. Sirios Capital Management L P now owns 1,564,059 shares of the company’s stock worth $17,611,000 after buying an additional 22,653 shares during the last quarter. Suffolk Capital Management LLC increased its stake in Radware by 17.8% in the second quarter. Suffolk Capital Management LLC now owns 260,692 shares of the company’s stock worth $2,935,000 after buying an additional 39,304 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Radware by 51.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 208,589 shares of the company’s stock worth $2,349,000 after buying an additional 71,217 shares during the last quarter. Finally, Harber Asset Management LLC bought a new stake in Radware during the second quarter worth $2,291,000. 63.27% of the stock is currently owned by institutional investors.
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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