Needham & Company Reiterates Buy on Radware (RDWR) Post Q4

Needham & Company analyst Alex Henderson reiterated a Buy rating and $26 price target on Radware (NASDAQ: RDWR) after Q4 beat but guidance was softer despite a continuing strong outlook.

Henderson commented, "RDWR beat the CY4Q forecasts solidly but offered a soft guide for CY1Q vs Street estimates, which had been creeping higher. RDWR reiterated that it is seeing strong demand and noted there was no change in their growth expectations. Relative to our expectations, the guide straddled our forecast. We still think the company can drive 25-30% growth in the 30% plus of Revenues from Security and post 25% growth in the US and 10% growth in Europe. GMs are edging higher and OPEX growth is likely between 2/3rds to 1/2 the rate of Revenue growth, driving higher Operating Margins."

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 $19.72 yesterday.

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