Imperial Capital Comments on Radware Ltd.’s Q3 2017 Earnings (RDWR)
Radware Ltd. (NASDAQ:RDWR) – Imperial Capital lowered their Q3 2017 earnings estimates for Radware in a note issued to investors on Tuesday. Imperial Capital analyst M. Kim now forecasts that the information technology services provider will earn ($0.04) per share for the quarter, down from their prior estimate 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.
Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $50.96 million for the quarter, compared to analyst estimates of $50.19 million. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. Radware’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. TRADEMARK VIOLATION NOTICE: This news story was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/imperial-capital-comments-on-radware-ltd-s-q3-2017-earnings-rdwr/1471564.html.
Several other equities analysts also recently weighed in on RDWR. BidaskClub downgraded Radware from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price (up from $19.00) on shares of Radware in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $22.00 target price on shares of Radware in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $17.00 target price on Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Zacks Investment Research downgraded Radware from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.44.
Shares of Radware (RDWR) opened at 17.23 on Friday. The company has a 50-day moving average of $17.70 and a 200 day moving average of $16.63. The stock’s market capitalization is $755.04 million. Radware has a one year low of $11.46 and a one year high of $18.33.
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Radware by 22.9% in the fourth quarter. State Street Corp now owns 227,212 shares of the information technology services provider’s stock worth $3,314,000 after buying an additional 42,349 shares during the period. Wells Fargo & Company MN increased its position in Radware by 81.9% in the first quarter. Wells Fargo & Company MN now owns 50,660 shares of the information technology services provider’s stock worth $819,000 after buying an additional 22,815 shares during the period. First Trust Advisors LP increased its position in Radware by 143.5% in the first quarter. First Trust Advisors LP now owns 173,062 shares of the information technology services provider’s stock worth $2,797,000 after buying an additional 101,979 shares during the period. US Bancorp DE increased its position in Radware by 142.2% in the first quarter. US Bancorp DE now owns 15,751 shares of the information technology services provider’s stock worth $254,000 after buying an additional 9,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Radware by 60.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,087 shares of the information technology services provider’s stock worth $405,000 after buying an additional 9,451 shares during the period. Institutional investors own 63.59% of the company’s stock.
Radware declared that its board has approved a share repurchase program on Tuesday, April 25th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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