Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers.
FAIL · Does not pass the screen
29.45 USD
At the last full screen 2026-09-16
Screened 2026-09-16 · the tape above runs as of 23:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 29.45 against the desk's fair-value range, base estimate 32.97, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price29.45 USD
Fair value32.97
Ethical score70.0/100
Our investment reviews on this name
2026-08-11Read Distribution30.29-2.8% to today ✓
2026-07-02Read Markup28.23+4.3% to today ✓
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Radware Ltd. holds its Markup at $29.45. The statistical read favours the sellers, held for 13 days.
As held on the ledger · 2026-09-16
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 13 days
Price at the screen
$29.45
Valuation
75.51 trailing · 21.60 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.86
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
2.54%
Below 33%
Interest-bearing debt is just 2.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
30.29%
Below 33%
Cash held in interest-bearing accounts and securities is 30.3% of assets, under the one-third limit.
Pass
Receivables
20.87%
Below 49%
Money owed to the company is 20.9% of assets, under the 49% limit.
Pass
Revenue purity
7.10%
Below 5%
7.1% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Conscience Overlay
Conscience flag · Boycott-Israel.org A Simple Boycott List
The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Documented on Boycott-Israel.org A Simple Boycott List. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
Fair value range in USD, drawn from the 2026-09-16 screen. The gold marker is the market price at the same screen. A 12.0% margin of safety to the base estimate.
Third-party analyst targets: 2 covering, consensus None. The average target sits +4% from the screen price.
Reading the gap · Our model sees value the Street hasn't fully caught up to yet.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-16 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cybersecurity tools that fail to deliver punch
Picture a company selling the digital locks and load balancers that keep websites running when traffic spikes or attackers strike. Radware sits in that market yet shows only 11% revenue growth, a 6% profit margin and 5% return on equity. With a forward multiple of 23 times and barely any margin of safety above fair value, the numbers give no reason to step in.
The ethical screen is cleared, which rules out obvious red flags on governance or product misuse. Still the business offers no visible moat, analyst coverage is thin and the consensus target sits almost on top of the current price. Opportunity rating stays at none because nothing here beats the hurdle for a conviction buy.
Competition in application security is fierce and low returns leave little room for error if growth slows further. Currency moves and customer concentration add extra volatility that the thin balance sheet does little to cushion. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Israel and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RDWR trades on Nasdaq (the company is based in Israel). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-11Distribution$29.57-2.4%Entry 5
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 7.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-07-18Markup$28.23+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-07-03Markup$28.23+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$28.23Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
