Radware Ltd. (NASDAQ:RDWR) – Investment analysts at Imperial Capital lowered their Q3 2017 earnings per share estimates for Radware in a note issued to investors on Tuesday. Imperial Capital analyst M. Kim now anticipates that the information technology services provider will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.03). Imperial Capital currently has a “Outperform” rating and a $21.00 target price on the stock. Imperial Capital also issued estimates for Radware’s Q4 2017 earnings at ($0.01) EPS, FY2017 earnings at ($0.14) EPS and FY2018 earnings at ($0.05) EPS.
Several other research firms have also issued reports on RDWR. BidaskClub lowered Radware from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective (up previously from $19.00) on shares of Radware in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $22.00 price objective on shares of Radware in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $17.00 price objective on Radware and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, Zacks Investment Research lowered Radware from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $18.44.
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Shares of Radware (NASDAQ:RDWR) opened at 17.34 on Friday. The stock’s 50 day moving average price is $17.68 and its 200-day moving average price is $16.65. The company’s market capitalization is $759.86 million. Radware has a 52-week low of $11.46 and a 52-week high of $18.33.
Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $50.96 million during the quarter, compared to the consensus estimate of $50.19 million. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS.
A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock valued at $7,771,000 after buying an additional 191,597 shares in the last quarter. Wellington Management Group LLP raised its stake in Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock valued at $5,365,000 after buying an additional 188,139 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Radware by 24.1% in the first quarter. JPMorgan Chase & Co. now owns 41,508 shares of the information technology services provider’s stock valued at $671,000 after buying an additional 8,073 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Radware during the first quarter valued at about $3,162,000. Finally, Penserra Capital Management LLC raised its stake in Radware by 4.8% in the first quarter. Penserra Capital Management LLC now owns 1,777,524 shares of the information technology services provider’s stock valued at $28,724,000 after buying an additional 81,863 shares in the last quarter. 63.59% of the stock is owned by institutional investors.
Radware announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 25th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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