Radware (NASDAQ:RDWR) Updates Q1 2024 Earnings Guidance

Radware (NASDAQ:RDWRGet Free Report) issued an update on its first quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.120-0.140 for the period, compared to the consensus estimate of 0.110. The company issued revenue guidance of $62.0 million-$64.0 million, compared to the consensus revenue estimate of $61.8 million.

Analyst Ratings Changes

Separately, StockNews.com downgraded Radware from a buy rating to a hold rating in a research report on Saturday, November 4th.

View Our Latest Research Report on RDWR

Radware Trading Up 0.9 %

Shares of NASDAQ RDWR opened at $18.54 on Thursday. The business’s 50 day moving average price is $16.88 and its 200-day moving average price is $16.58. Radware has a fifty-two week low of $13.53 and a fifty-two week high of $23.35.

Radware (NASDAQ:RDWRGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Radware had a negative return on equity of 2.39% and a negative net margin of 7.35%. The firm had revenue of $65.03 million for the quarter, compared to the consensus estimate of $64.01 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. Analysts forecast that Radware will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in Radware by 61.6% during the 1st quarter. UBS Group AG now owns 17,960 shares of the information technology services provider’s stock worth $387,000 after purchasing an additional 6,847 shares during the period. Maverick Capital Ltd. bought a new stake in Radware during the 4th quarter valued at $364,000. Barclays PLC boosted its position in Radware by 157,680.0% during the 2nd quarter. Barclays PLC now owns 15,778 shares of the information technology services provider’s stock valued at $305,000 after acquiring an additional 15,768 shares in the last quarter. GTS Securities LLC bought a new stake in Radware during the 2nd quarter valued at $289,000. Finally, Vident Investment Advisory LLC bought a new stake in Radware during the 1st quarter valued at $288,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

About Radware

(Get Free Report)

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for applications in cloud, on-premise, and software defined data centers worldwide. It offers DefensePro, a real-time network attack mitigation device that protects the data center and application infrastructure; Radware Kubernetes, a Web Application Firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.

Further Reading

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