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Radware (RDWR) Deploys Security for a Latin American Judiciary

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Radware (RDWR - Free Report) announced that a Latin American judiciary has purchased a range of security solutions, including Radware Cloud Web Application Firewall (WAF), Application Programming Interface (API) security, Bot Manager, DefensePro Distributed Denial of Service (DDoS) Protection and Cloud DDoS Protection Service. These solutions aim to address the hybrid infrastructure security needs of the Latin American judiciary's application and network.

To enhance application security, RDWR deployed its Cloud WAF solution, which is constructed on the company's SecurePath architecture, ensuring enterprise-grade adaptive security against standard Open Web Application Security Project (OWASP)-Top-10 threats. Additionally, the API Security solution aims to counter OWASP API Security Top 10 attacks, which hackers commonly exploit to compromise APIs.

Furthermore, the Bot Manager solution tackles some of the most sophisticated threats posed by bots, including account takeovers, web scraping and critical risks like payment fraud. Leveraging behavioral modeling, fingerprinting and bot intelligence technology, it offers users a CAPTCHA-free browsing experience while continuously thwarting threats.

The institution has also chosen two other solutions to safeguard its servers from cyber attacks, such as DDoS threats. These attacks disrupt high-volume server traffic and come in various forms like those of IoT-based, Burst, ransom DDoS, or even User Datagram Protocol floods, Phantom floods and DDoS Tsunami attacks. RDWR’s on-premise DefensePro DDoS Protection solution and the cloud-based Cloud DDoS Protection Service are built to counter these threats.

Strong Cybersecurity Demand Aids Radware

The rise of data breaches, DDoS attacks and other critical cybersecurity threats has positioned Radware strongly in the cybersecurity market, causing a surge in demand for its solutions. Alongside its recent partnership with the Latin American Judiciary, the company is actively engaged with other organizations like the Israeli government, mitigating threats across government offices, banking institutes and media agencies in Israel.

Another recent success came from securing a prominent North American Airport as a customer. Radware deployed its Cloud DDoS Protection and Cloud Application Protection Services to safeguard the Airport’s network and applications housed in its data centers. The increasing prevalence of Layer 7 attacks, such as HTTP/S Floods, DNS Query Floods and Brute Force threats, presents a distinct opportunity for the company as its offerings are specifically designed to tackle these challenges, unlike traditional firewalls.

However, RDWR faces a mixed bag of challenges. In an increasingly competitive cybersecurity industry, it contends with several major competitors, including Zscaler, F5, CyberArk, CrowdStrike, Fortinet and Palo Alto Networks, all of which are focused on rapid innovation.

Zacks Rank & Stocks to Consider

Radware currently carries a Zacks Rank #3 (Hold). Shares of RDWR have declined 21.3% year to date.

Some better-ranked stocks from the broader technology sector are Aspen Technology (AZPN - Free Report) , NetEase (NTES - Free Report) and Dropbox (DBX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Aspen Technology’s second-quarter fiscal 2024 earnings has been revised 14 cents upward to $1.49 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 5 cents to $6.63 in the past 30 days.

AZPN's earnings did not beat the Zacks Consensus Estimate in any of the preceding four quarters, the average negative surprise being 32.26%. Shares of AZPN have declined 3.5% year to date.

The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 60 days. For fiscal 2023, earnings estimates have increased by 7 cents to $7.26 per share in the past 30 days.

NTES' earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same on one occasion, the average surprise being 16.63%. Shares of NTES have gained 50.6% year to date.

The Zacks Consensus Estimate for Dropbox's fourth-quarter 2023 earnings has remained unchanged for the past 90 days at 48 cents per share. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days.

DBX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 13.14%. Shares of DBX have climbed 28.6% year to date.

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