Israel's Radware Q2 adjusted EPS beats estimates on cloud revenue growth

Overview

• Israel cybersecurity firm's Q2 revenue rose 11% yr/yr

• Adjusted EPS from continuing operations for Q2 beat analyst expectations

• Company highlights double-digit revenue growth and cloud ARR momentum

Outlook

• Radware did not provide specific guidance for the upcoming quarter or full year

Result Drivers

• CLOUD REVENUE GROWTH - Co said Q2 results were driven by 22% yr/yr growth in cloud annual recurring revenue

• PLATFORM EXPANSION - Co cited continued expansion and innovation in cloud, application security, API Security, and DDoS protection as supporting growth, per CEO Roy Zisapel

• AMERICAS GROWTH - Revenue in the Americas rose 24% yr/yr, offsetting a decline in EMEA

Company press release: ID:nGNX5DtVl

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Radware Ltd is $32.00, about 13.4% above its July 28 closing price of $28.21

• The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 23 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)