Oppenheimer Maintains a Buy Rating on Radware Ltd


Oppenheimer analyst Ittai Kidron maintained a Buy rating on Radware Ltd (NASDAQ: RDWR) today and set a price target of $25. The company’s shares opened today at $22.85, close to its 52-week high of $23.

Kidron noted:

“Radware reported solid 1Q18 results and provided positive commentary suggesting continued progress in its transition to a subscription model. While this has not gone unnoticed by investors (the stock nears its 5-year high), we argue that there are more gains to come, as the transition to a recurring revenue model and the build up with new partners (Cisco and Nokia) is still in early innings. This leaves us feeling that guidance (8%-10% in 2018) is conservative and that there’s more room for upside. Overall, we believe Radware is executing well on its transition toward a subscription- based model and think the evolution should result in solid YoY growth and continued margin expansion. Adjusting estimates for results/outlook. Raising price target to $25 from $24. Maintain Outperform.”

According to TipRanks.com, Kidron is a top 100 analyst with an average return of 19.8% and a 65.2% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Juniper Networks, and Pure Storage Inc.

Radware Ltd has an analyst consensus of Strong Buy, with a price target consensus of $24.75.

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The company has a one-year high of $23 and a one-year low of $15.82. Currently, Radware Ltd has an average volume of 163.5K.

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Radware Ltd. engages in the provision of application delivery and cyber security solutions for virtual, cloud, and software defined data centers. Its products include application and network security, and application delivery.

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