Benzinga | Jul 28, 2021 02:12PM EDT

Radware Stock Gains As Colliers Upgrades From Neutral To Buy, Sees 31% Upside

* Colliers analyst Catharine Trebnick upgraded Radware Ltd (NASDAQ:RDWR) to Buy from Neutral with a $40 price target, implying a 31% upside.

* The rating follows the company's Q2 earnings beat and the increase in the Q3 outlook.

* Trebnick believes the outlook could prove to be conservative due to the potential for the OEM and technology relationships to positively impact the model, based on solid tailwinds from ransomware driving Fortune 500 opportunities.

* Radware is well-positioned to benefit from heightened cyberattacks and the increase in security spending, Trebnick adds.

* Price action: RDWR shares traded higher by 6.32% at $32.47 on the last check Wednesday.