The Radware Ltd. (RDWR) Earns Buy Rating from Needham & Company LLC

The Radware Ltd. (RDWR) Earns Buy Rating from Needham & Company LLC

Radware Ltd. (NASDAQ:RDWR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Wednesday. They currently have a $14.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 11.02% from the stock’s current price.

Several other research firms have also recently weighed in on RDWR. Zacks Investment Research raised Radware from a “sell” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, July 6th. Imperial Capital reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Radware in a report on Monday, July 25th. DA Davidson set a $15.00 price target on Radware and gave the company a “buy” rating in a report on Monday. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Radware in a report on Monday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.43.

Radware (NASDAQ:RDWR) traded down 0.87% during midday trading on Wednesday, hitting $12.50. The stock had a trading volume of 91,129 shares. Radware has a 52 week low of $9.98 and a 52 week high of $16.66. The company has a 50-day moving average price of $13.53 and a 200-day moving average price of $12.17. The stock has a market cap of $549.30 million, a P/E ratio of 657.89 and a beta of 1.23.

Radware (NASDAQ:RDWR) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Radware had a return on equity of 2.04% and a net margin of 0.42%. The firm had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $49.57 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was down 11.4% compared to the same quarter last year. Equities analysts expect that Radware will post $0.33 EPS for the current year.

A number of institutional investors have recently bought and sold shares of RDWR. Goldman Sachs Group Inc. raised its position in Radware by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,723,472 shares of the company’s stock valued at $20,389,000 after buying an additional 18,406 shares during the last quarter. Suffolk Capital Management LLC raised its position in Radware by 17.8% in the second quarter. Suffolk Capital Management LLC now owns 260,692 shares of the company’s stock valued at $2,935,000 after buying an additional 39,304 shares during the last quarter. Credit Agricole S A raised its position in Radware by 392.1% in the first quarter. Credit Agricole S A now owns 184,960 shares of the company’s stock valued at $2,188,000 after buying an additional 147,374 shares during the last quarter. Renaissance Technologies LLC raised its position in Radware by 338.5% in the first quarter. Renaissance Technologies LLC now owns 121,900 shares of the company’s stock valued at $1,442,000 after buying an additional 94,100 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Radware by 104.5% in the first quarter. Geode Capital Management LLC now owns 32,276 shares of the company’s stock valued at $381,000 after buying an additional 16,490 shares during the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.

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