Oscar Gruss Upgrades Radware (RDWR) to Buy; Well Positioned to Materialize on Opportunities

July 28, 2009 12:10 PM EDT

Oscar Gruss upgrades Radware (Nasdaq: RDWR) from Hold to Buy. Price target increased from $7 to $12.

Oscar analyst says, "Management’s narrow guidance calls for 3Q09 revenues and Non-GAAP EPS of $27.3M-$27.7M/$0.05-$0.06. We model 3Q09 revenues and EPS at $27.3M/$0.04 and $103.4M/$0.01 for the year. Accordingly, we update our 2010 revenues forecast to $114.2M and our Non-GAAP EPS to $0.21. Our 2009 and 2010 revenue estimates reflect Y/Y growth of 9.3% and 10.5%, respectively...Our sense is that Alteon enhances Radware’s competitive approach. We believe the increment in customer base broadens Radware’s positioning in the market. We therefore share management’s view that the acquisition opens the door for a range of cross-sell opportunities. We believe Radware is well positioned to materialize upon the opportunity at hand."

To see more analyst ratings on RDWR Click Here

Radware Ltd. provides application delivery and network security solutions to banks, insurance companies, manufacturing and retail, government agencies, media companies, and service providers worldwide.

Related Categories

Upgrades

Stocks Mentioned

Related Entities

• Oscar Gruss

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?