Radware (RDWR) PT Lifted to $28 at Needham & Company

Needham & Company analyst Alex Henderson reiterated a Buy rating and boosted his price target on Radware (NASDAQ: RDWR) to $28.00 (from $26.00) following strong results and 'solid conservative' guidance.

Radware reported a strong CY1Q and offered solid conservative guidance. Revenues came in a sliver ahead of forecast and EPS came in 7% ahead of our and Street estimates. Guidance straddled the Street Revenue estimate and pegged the Street EPS estimate of $0.23 at the bottom of the $0.23-$0.25 EPS guidance band. The strength in the quarter came from Enterprise growth of 19%, European growth of 17%, Security growth of over 20%, triple digit growth in Subscription Revenues, and 18%-20% growth in the US. Declines in Brazil and China and Service Provider offset.

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 $23.45 yesterday.

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