Wall Street analysts forecast that Radware Ltd. (NASDAQ:RDWR) will report $58.36 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Radware’s earnings, with the highest sales estimate coming in at $58.80 million and the lowest estimate coming in at $58.00 million. Radware reported sales of $53.05 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, November 7th.

On average, analysts expect that Radware will report full year sales of $233.06 million for the current fiscal year, with estimates ranging from $231.80 million to $235.20 million. For the next year, analysts forecast that the business will post sales of $252.85 million, with estimates ranging from $248.00 million to $258.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Radware.

Radware (NASDAQ:RDWR) last issued its earnings results on Wednesday, August 1st. The information technology services provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $57.30 million for the quarter, compared to the consensus estimate of $56.60 million. Radware had a return on equity of 0.20% and a net margin of 0.59%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS.

A number of equities analysts recently commented on the company. BidaskClub upgraded Radware from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. Zacks Investment Research upgraded Radware from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Saturday, August 4th. Barclays restated a “buy” rating and issued a $30.00 price objective on shares of Radware in a report on Thursday, August 2nd. Finally, Needham & Company LLC increased their price objective on Radware from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, June 25th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $28.00.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Radware by 80.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the information technology services provider’s stock valued at $168,000 after purchasing an additional 2,959 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Radware by 41.9% during the first quarter. Asset Management One Co. Ltd. now owns 8,470 shares of the information technology services provider’s stock valued at $181,000 after purchasing an additional 2,500 shares during the last quarter. Citigroup Inc. grew its holdings in Radware by 171.9% during the first quarter. Citigroup Inc. now owns 9,193 shares of the information technology services provider’s stock valued at $197,000 after purchasing an additional 5,812 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Radware during the second quarter valued at approximately $230,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Radware during the second quarter valued at approximately $385,000. Hedge funds and other institutional investors own 62.31% of the company’s stock.

NASDAQ:RDWR opened at $22.73 on Friday. Radware has a 52 week low of $16.74 and a 52 week high of $28.50. The company has a market capitalization of $1.18 billion, a P/E ratio of -188.67, a PEG ratio of 9.61 and a beta of 1.03.

About Radware

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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