Radware Ltd. (NASDAQ:RDWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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) “
Other research analysts have also recently issued reports about the stock. DA Davidson set a $15.00 target price on shares of Radware and gave the stock a “buy” rating in a report on Monday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Radware in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Radware in a report on Monday, October 10th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $15.00 target price on shares of Radware in a report on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.43.
Shares of Radware (NASDAQ:RDWR) opened at 12.29 on Thursday. The stock has a 50 day moving average of $13.43 and a 200 day moving average of $12.18. Radware has a 52-week low of $9.98 and a 52-week high of $16.66. The firm has a market cap of $540.07 million, a price-to-earnings ratio of 646.84 and a beta of 1.22.
Radware (NASDAQ:RDWR) last announced its earnings results on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Radware had a net margin of 0.42% and a return on equity of 2.04%. The company earned $49.60 million during the quarter, compared to analysts’ expectations of $49.57 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. Equities analysts predict that Radware will post $0.33 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Harber Asset Management LLC acquired a new position in shares of Radware during the second quarter valued at $2,291,000. Ameriprise Financial Inc. acquired a new position in shares of Radware during the second quarter valued at $2,163,000. Credit Agricole S A raised its position in shares of 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 shares of 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, State Street Corp raised its position in shares of Radware by 125.2% in the second quarter. State Street Corp now owns 161,375 shares of the company’s stock valued at $1,817,000 after buying an additional 89,717 shares during the last quarter. 63.35% of the stock is currently owned by hedge funds and other institutional investors.
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.