Oppenheimer analyst George Iwanyc maintained a Buy rating on Radware Ltd (RDWR) today and set a price target of $30. The company’s shares opened today at $25.75.
Iwanyc commented:
“Radware reported solid 1Q19 results while offering mixed (lower 2Q19 top-line/in-line EPS; conservative top-line for FY19) guidance. Overall, stronger service provider/ APAC performance was offset by slower enterprise/OEM contribution and EMEA demand. While execution was somewhat uneven, the company announced new solutions (ShieldSquare, Cloud Workload Protection) that complement its DDoS/ WAF portfolio well, and with accelerated hiring planned, we see growth opportunities ahead. Our estimates are only slightly modified although we believe FY19 guidance is conservative, with the caveat that the sales ramp and go-to-market execution needs to be closely watched. A new $40M buyback program offers support. Adjusting estimates for results/outlook; PT remains $30. Maintain Outperform.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 7.0% and a 73.1% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Radware Ltd with a $30 average price target.
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The company has a one-year high of $28.50 and a one-year low of $21.16. Currently, Radware Ltd has an average volume of 224.2K.
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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.
