DA Davidson Weighs in on Radware Ltd.’s Q3 2016 Earnings (RDWR)
Radware Ltd. (NASDAQ:RDWR) – Investment analysts at DA Davidson cut their Q3 2016 earnings estimates for shares of Radware in a research report issued on Monday. DA Davidson analyst M. Kelleher now anticipates that the brokerage will post earnings of ($0.01) per share for the quarter, down from their prior forecast of $0.03. DA Davidson has a “Buy” rating and a $15.00 price objective on the stock. DA Davidson also issued estimates for Radware’s Q4 2016 earnings at $0.03 EPS, Q2 2017 earnings at $0.02 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.06 EPS and Q3 2018 earnings at $0.05 EPS.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Radware from a “sell” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, July 6th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Radware in a research note on Wednesday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Radware in a research note on Monday. Finally, 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.43.
Radware (NASDAQ:RDWR) traded down 0.79% on Wednesday, reaching $12.51. The company’s stock had a trading volume of 91,906 shares. Radware has a 1-year low of $9.98 and a 1-year high of $16.66. The firm’s 50 day moving average price is $13.53 and its 200-day moving average price is $12.17. The company has a market capitalization of $549.74 million, a price-to-earnings ratio of 658.42 and a beta of 1.23.
Radware (NASDAQ:RDWR) last posted its earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Radware had a return on equity of 2.04% and a net margin of 0.42%. The company had revenue of $49.60 million for the quarter, compared to the consensus estimate of $49.57 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. Radware’s revenue was down 11.4% on a year-over-year basis.
Several institutional investors have recently modified their holdings of the company. Harber Asset Management LLC purchased a new position in shares of Radware during the second quarter valued at about $2,291,000. State Street Corp raised its position in shares of Radware by 125.2% in the second quarter. State Street Corp now owns 161,375 shares of the company’s stock valued at $1,817,000 after buying an additional 89,717 shares during the last quarter. Sirios Capital Management L P raised its position in shares of Radware by 1.5% in the second quarter. Sirios Capital Management L P now owns 1,564,059 shares of the company’s stock valued at $17,611,000 after buying an additional 22,653 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Radware by 51.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 208,589 shares of the company’s stock valued at $2,349,000 after buying an additional 71,217 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new position in shares of Radware during the second quarter valued at about $114,000. 63.27% of the stock is currently owned by institutional investors.
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.
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