Needham analyst Ryan Koontz has maintained their neutral stance on RDWR stock, giving a Hold rating on July 24.
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Ryan Koontz’s rating is based on several key considerations. Radware’s recent quarterly performance was slightly above expectations, with revenue and earnings per share just surpassing consensus estimates. This positive outcome was largely driven by strong sales in the EMEA and APAC regions, while the North American go-to-market strategy is still under reconstruction.
Despite the encouraging growth in cloud annual recurring revenue and a consistent increase in total revenue over the past quarters, Koontz maintains a Hold rating. This cautious stance is due to the need for a sustained trend in revenue acceleration and successful execution of the company’s stock buyback plan. Until these factors show consistent improvement, the Hold rating remains appropriate.
In another report released on July 24, Jefferies also maintained a Hold rating on the stock with a $30.00 price target.