Radware (RDWR) Stock Price Up 0.5% on Better-Than-Expected Earnings
Radware Ltd. (NASDAQ:RDWR) rose 0.5% on Thursday following a better than expected earnings announcement. The company traded as high as $21.26 and last traded at $20.81. Approximately 127,595 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 175,503 shares. The stock had previously closed at $20.70.
The information technology services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Radware had a negative return on equity of 1.80% and a negative net margin of 3.55%. 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 prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year.
RDWR has been the subject of several research reports. Zacks Investment Research upgraded Radware from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 18th. Barclays upped their target price on Radware from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Dougherty & Co upped their target price on Radware from $18.50 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. BidaskClub cut Radware from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Finally, Needham & Company LLC upped their target price on Radware from $23.00 to $24.50 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.07.
The stock has a market cap of $900.03, a PE ratio of -130.38, a P/E/G ratio of 51.56 and a beta of 1.00.
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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