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.
Iwanyc wrote:
“Radware reported solid 4Q18 results above consensus estimates while offering mixed (in-line 1Q19 revenue/EPS; conservative top-line FY19) guidance. Overall, demand from enterprises remains strong with growing traction for its cloud/security offerings; this is best illustrated in EMEA while Americas growth was impacted by softness in the service provider vertical. We see potential for the ShieldSquare acquisition to enhance Radware’s core DDoS/WAF portfolio and help it win larger and more complex deals, especially in hybrid cloud environments. We see FY19 guidance as conservative given the solid execution, and look for a more comprehensive update at Radware’s investor meeting on February 20th in NYC. Tweaking estimates for results/outlook; our PT remains $30. Maintain Outperform.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 7.4% and a 68.4% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
Currently, the analyst consensus on Radware Ltd is a Moderate Buy with an average price target of $30.
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The company has a one-year high of $28.50 and a one-year low of $18.80. Currently, Radware Ltd has an average volume of 197.7K.
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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.
