Zacks Investment Research upgraded shares of Radware Ltd. (NASDAQ:RDWR) from a strong sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. (PRESS RELEASE) “
Several other brokerages have also issued reports on RDWR. BidaskClub lowered shares of Radware from a buy rating to a hold rating in a report on Tuesday, July 25th. Imperial Capital reissued an outperform rating and issued a $21.00 price target (up previously from $20.00) on shares of Radware in a report on Thursday, August 10th. Needham & Company LLC reissued a buy rating and issued a $21.00 price target (up previously from $19.00) on shares of Radware in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a buy rating and issued a $22.00 price target on shares of Radware in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Radware currently has an average rating of Buy and an average price target of $18.36.
Shares of Radware (NASDAQ:RDWR) opened at 17.19 on Wednesday. Radware has a 1-year low of $11.46 and a 1-year high of $18.33. The company’s market capitalization is $753.28 million. The stock’s 50 day moving average price is $17.02 and its 200 day moving average price is $17.19.
Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The company had revenue of $50.96 million during the quarter, compared to analyst estimates of $50.19 million. During the same quarter in the previous year, the business earned $0.06 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Radware will post $0.14 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Radware by 8.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,958 shares of the information technology services provider’s stock worth $122,000 after purchasing an additional 535 shares during the period. US Bancorp DE boosted its stake in Radware by 5.0% in the 2nd quarter. US Bancorp DE now owns 16,535 shares of the information technology services provider’s stock worth $290,000 after purchasing an additional 784 shares during the period. State Street Corp boosted its stake in Radware by 1.0% in the 2nd quarter. State Street Corp now owns 240,567 shares of the information technology services provider’s stock worth $4,220,000 after purchasing an additional 2,489 shares during the period. Vanguard Group Inc. boosted its stake in Radware by 24.1% in the 2nd quarter. Vanguard Group Inc. now owns 15,950 shares of the information technology services provider’s stock worth $279,000 after purchasing an additional 3,101 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Radware by 2.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 162,980 shares of the information technology services provider’s stock worth $2,859,000 after purchasing an additional 3,568 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.
Radware Company Profile
Radware Ltd. is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF) and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications.
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