Report
Ilya Kundozerov
EUR 101.80 For Business Accounts Only

Radware is a niche ADC player with strong expertise in security.

Radware posted fourth-quarter results largely in line with our expectations, as revenue declines were offset by strong deferred revenue growth. Carriers segment delivered solid results this quarter, potentially due to lumpiness as several large deals landed in the same quarter. However, falling revenue and rapid growth in operating expenses weighted on the bottom line. While we think the company is going to be able to eke out marginal top-line growth in 2017, we model another net loss next year ...
Underlying
Radware Ltd.

Radware sells application delivery and network security products, which it sometimes refer to as its devices, that are delivered on top of a unified hardware switching platforms family with various levels of processing power, throughput, port density, and speed depending on the selected model. Co.'s products run different configurations of embedded software to deliver features specific to the intended operation of the appliance. Multiple Radware devices can be managed through Co.'s common management tool and dashboard (Apsolute Vision). This market sector is comprised of a few solution domains, among which Co. focuses on two: Application Delivery and Network Security.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Ilya Kundozerov

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