Brokerages Anticipate Radware Ltd. (NASDAQ:RDWR) Will Announce Quarterly Sales of $62.00 Million

Wall Street brokerages predict that Radware Ltd. (NASDAQ:RDWR) will post sales of $62.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Radware’s earnings. Radware reported sales of $62.86 million in the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 4th.

On average, analysts expect that Radware will report full year sales of $247.30 million for the current year, with estimates ranging from $246.00 million to $248.60 million. For the next financial year, analysts anticipate that the business will post sales of $270.85 million, with estimates ranging from $265.00 million to $276.70 million. Zacks’ sales averages are an average based on a survey of analysts that follow Radware.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Radware had a return on equity of 5.88% and a net margin of 7.12%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $57.99 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis.

A number of equities analysts have issued reports on RDWR shares. Zacks Investment Research upgraded Radware from a “sell” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC started coverage on Radware in a research note on Wednesday, July 29th. They issued a “hold” rating on the stock. BidaskClub raised Radware from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 23rd. Finally, Oppenheimer started coverage on Radware in a research note on Tuesday, August 11th. They issued a “buy” rating and a $27.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Radware has a consensus rating of “Hold” and an average target price of $26.33.

Several institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in shares of Radware by 22.4% during the second quarter. Neuberger Berman Group LLC now owns 404,471 shares of the information technology services provider’s stock valued at $9,539,000 after buying an additional 73,890 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Radware during the second quarter valued at $2,123,000. California State Teachers Retirement System boosted its position in shares of Radware by 3.5% during the second quarter. California State Teachers Retirement System now owns 44,672 shares of the information technology services provider’s stock valued at $1,054,000 after buying an additional 1,522 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Radware during the second quarter valued at $42,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Radware during the second quarter valued at $745,000. 72.97% of the stock is currently owned by institutional investors.

RDWR traded up $0.02 during trading on Tuesday, reaching $24.68. The stock had a trading volume of 442,992 shares, compared to its average volume of 270,706. The stock’s 50 day moving average is $25.23 and its two-hundred day moving average is $23.63. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 68.56, a P/E/G ratio of 4.44 and a beta of 0.85. Radware has a one year low of $16.02 and a one year high of $26.99.

Radware Company Profile

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

Featured Article: Basic Economics

Get a free copy of the Zacks research report on Radware (RDWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Radware (NASDAQ:RDWR)

Receive News & Ratings for Radware Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radware and related companies with MarketBeat.com's FREE daily email newsletter.