MAHWAH, N.J. - Radware (NASDAQ: NASDAQ:RDWR), a global provider of cybersecurity and application delivery solutions, announced today the release of a new AI-powered edition of its DNS DDoS Protection service.
The updated solution utilizes Radware's patented algorithms to automatically differentiate between legitimate user queries and malicious attack traffic, aiming to improve response times and reduce the cost of ownership for businesses managing their own DNS services or for DNS service providers.
The company's latest offering is designed to combat increasingly sophisticated and frequent DNS DDoS attacks, which, according to Radware's 2024 Global Threat Analysis Report, have surged by over 394% from 2022 to 2023.
The report also indicates that the scale of attacks has grown, with a notable incident in the third quarter of 2023 reaching 2.15 million DNS queries per second. Financial institutions, telecom companies, government agencies, and service providers are among the high-value targets for such cyber threats.
Gabi Malka, COO of Radware, emphasized the benefits of the new system, stating, "There is now DNS DDoS protection available that no longer requires human intervention to handle the attack life cycle."
He added that the AI-powered approach allows for accurate identification and blocking of attack traffic without impacting legitimate users.
The solution is said to offer a rule-free method of managing DNS DDoS attacks, which could lead to a lower total cost of ownership for organizations. It also promises to shorten the time needed to resolve attacks through its adaptive technology that learns normal traffic patterns and quickly devises mitigation strategies.
Radware's DNS DDoS Protection is offered as a fully managed service, supported by the company's Emergency Response Team (ERT), a group of experienced security professionals providing real-time assistance for both routine and critical security issues.
The information provided in this article is based on a press release statement from Radware.
InvestingPro Insights
As Radware (NASDAQ: RDWR) advances its cybersecurity offerings with the latest AI-powered DNS DDoS Protection service, the company's financial health and strategic decisions are pivotal for investors tracking its progress. Radware's management has demonstrated confidence in the company's future by aggressively buying back shares, which can often be a positive signal regarding the company's valuation and future prospects. Moreover, Radware's strong balance sheet, characterized by holding more cash than debt, provides the company with financial flexibility to invest in innovation and weather economic downturns.
Investors should note that Radware has an impressive gross profit margin of 80.21% for the last twelve months as of Q1 2023, highlighting the company's ability to maintain profitability on its core services despite the challenges in the cybersecurity market. This aligns with the expectations of analysts, who predict that Radware will be profitable this year, a significant turnaround considering the company was not profitable over the last twelve months.
On the financial metrics front, Radware's market capitalization stands at $682.38 million, with a Price to Book ratio of 2.4, reflecting a valuation that investors may find reasonable in relation to the company's net assets. However, it's important to consider that the company's revenue has experienced a dip, with a -10.95% growth rate over the last twelve months as of Q1 2023.
For investors seeking a deeper dive into Radware's financials and strategic outlook, there are additional InvestingPro Tips available that could shed light on investment opportunities and risks. For instance, while Radware does not pay a dividend, indicating a reinvestment of profits into growth, two analysts have revised their earnings estimates downwards for the upcoming period, which merits close attention. To explore these insights and more, consider using the promo code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. Currently, there are a total of 10 additional InvestingPro Tips listed for Radware, providing a comprehensive view for informed investment decisions.
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