Radware NasdaqGS:RDWR Stock Report

Chief Operating Officer notifies of intention to sell stock

Gabi Malka intends to sell 11k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of May. If the sale is conducted around the recent share price of US$27.71, it would amount to US$314k. As of today, Gabi currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months.

Radware Ltd. Appoints Meir Moshe as an Independent Director

Price target decreased to US$37.75

Down from US$40.90, the current price target is an average from 4 analysts. New target price is 36% above last closing price of US$27.71. Stock is down 0.04% over the past year. The company posted earnings per share of US$0.17 last year.

Radware Ltd. Launches SkyHawk Security, A Spinoff of its Cloud Native Protector Business

Radware Ltd. announced the spinoff of its Cloud Native Protector (CNP) business to form a new company called SkyHawk Security. To accelerate SkyHawk Security’s development and growth opportunities, an affiliate of Tiger Global Management will make a $35 million strategic external investment, resulting in a valuation of $180 million. Tiger Global Management is a leading global technology investment firm focused on private and public companies in the internet, software, and financial technology sectors. SkyHawk Security is a leader in cloud threat detection and protects dozens of the world’s leading organizations using its artificial intelligence and machine learning technologies. Its Cloud Native Protector provides comprehensive protection for workloads and applications hosted in public cloud environments. It uses a multi-layered approach that covers the overall security posture of the cloud and threats to individual workloads. Easy-to-deploy, the agentless solution identifies and prevents compliance violations, cloud security misconfigurations, excessive permissions, and malicious activity in the cloud. The spinoff, which adds to Radware’s recently announced strategic cloud services initiative, further demonstrates the company’s ongoing commitment to innovation. SkyHawk Security will have the ability to operate with even greater sales, marketing, and product focus as well as speed and flexibility. Current and new CNP customers will benefit from future product development efforts, while CNP services for existing customers will continue without interruption.

First quarter 2022 earnings: EPS misses analyst expectations

First quarter 2022 results: EPS: US$0.083 (down from US$0.084 in 1Q 2021). Revenue: US$73.7m (up 10% from 1Q 2021). Net income: US$3.77m (down 3.5% from 1Q 2021). Profit margin: 5.1% (down from 5.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Over the next year, revenue is forecast to grow 8.8%, compared to a 9.3% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.