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Investing.com - Barclays (LON:BARC) has raised its price target on Radware (NASDAQ:RDWR) to $35.00 from $30.00 while maintaining an Overweight rating on the cybersecurity company’s stock. The company, which has demonstrated impressive gross profit margins of nearly 81% and a strong YTD return of 26%, currently trades around $26 per share.
The price target adjustment follows Radware’s quarterly earnings report, which exceeded both Barclays’ expectations and consensus estimates for both revenue and earnings per share.
Barclays noted that management comments during the earnings call indicated ongoing momentum in Radware’s cloud business and a growing sales pipeline.
The research firm has adjusted its financial model to reflect the recent earnings results and the company’s forward guidance.
Barclays sees approximately 24% upside potential to its revised price target for Radware stock.
In other recent news, Radware has announced its financial results for the first quarter of 2025. The company filed a Form 6-K with the Securities and Exchange Commission, providing detailed financial outcomes and relevant data for the quarter. This filing is part of Radware’s compliance as a foreign private issuer. Additionally, Radware has signed managed security service provider agreements with four U.S.-based companies: Epcom World Industries, GLESEC, North Atlantic Networks, and Tech Pro. These agreements will enable the firms to incorporate Radware’s Cloud Application Protection Services into their offerings, with North Atlantic Networks also providing Cloud DDoS Protection Services. In analyst updates, Jefferies’ Joseph Gallo increased the price target for Radware shares to $25, maintaining a Hold rating. Gallo noted that Radware’s first-quarter Annual Recurring Revenue (ARR) reached $230 million, reflecting a 9% year-over-year growth, driven by strong new cloud bookings and growth in cloud customers. The company’s performance has not been significantly impacted by macroeconomic factors or tariffs, according to Gallo.
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