Radware (NASDAQ:RDWR) Updates Q1 2024 Earnings Guidance

Radware (NASDAQ:RDWRGet Free Report) updated its first quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.120-0.140 for the period, compared to the consensus earnings per share 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.

Radware Trading Up 0.9 %

RDWR stock opened at $18.54 on Thursday. Radware has a fifty-two week low of $13.53 and a fifty-two week high of $23.35. The stock has a fifty day moving average of $16.88 and a 200-day moving average of $16.58.

Radware (NASDAQ:RDWRGet Free Report) last posted 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 company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $64.01 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. Analysts anticipate that Radware will post -0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on Radware

Hedge Funds Weigh In On Radware

A number of large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. grew its position in shares of Radware by 53.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,208 shares of the information technology services provider’s stock worth $40,000 after buying an additional 419 shares during the last quarter. FMR LLC grew its position in shares of Radware by 63.4% in the 1st quarter. FMR LLC now owns 3,168 shares of the information technology services provider’s stock worth $68,000 after buying an additional 1,229 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Radware in the 1st quarter worth approximately $127,000. Envestnet Asset Management Inc. bought a new stake in shares of Radware in the 1st quarter worth approximately $220,000. Finally, Quantbot Technologies LP bought a new stake in shares of Radware in the 2nd quarter worth approximately $223,000. 74.63% of the stock is owned by hedge funds and other institutional investors.

Radware Company Profile

(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.

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