UPDATE: Oppenheimer Upgrades Radware (RDWR) to Outperform

November 11, 2016 7:55 AM EST
Get Alerts RDWR Hot Sheet
Price: $14.62 --0%

Rating Summary:
    8 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 12
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(Updated - November 11, 2016 10:16 AM EST)

Oppenheimer upgraded Radware (NASDAQ: RDWR) from Perform to Outperform with a price target of $16. Analsyt Ittai Kidron noted improved visibility.

"Our positive thesis is based on our view that Radware's (1) transition to a subscription model is now advanced enough to yield improved visibility; (2) net cash to stock price/per share is well above its historical average and at all-time highs, limiting downside; (3) ADC opportunity is not as obsolete as investors fear; and (4) business activity in Europe/APAC/Cisco offers upside opportunities in 2017. Overall, while execution risk remains and some volatility in results related to timing of revenue recognition (subscription vs. product) should be expected, we believe the risk/reward is now compelling, and the transition to a subscription model is better understood by investors. We see attractive potential upside and limited downside," said Kidron.

For an analyst ratings summary and ratings history on Radware click here. For more ratings news on Radware click here.

Shares of Radware closed at $12.55 yesterday.

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