Radware Ltd. (RDWR) Raised to “Hold” at Zacks Investment Research
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.
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) “
RDWR has been the topic of several other reports. Jefferies Group LLC reaffirmed a buy rating on shares of Radware in a report on Friday, October 6th. BidaskClub lowered Radware from a buy rating to a hold rating in a report on Tuesday, July 25th. Imperial Capital reaffirmed an outperform rating and set a $21.00 target price (up from $20.00) on shares of Radware in a report on Thursday, August 10th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $21.00 target price on shares of Radware in a report on Tuesday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $18.36.
Shares of Radware (NASDAQ:RDWR) traded up 0.06% on Wednesday, hitting $17.19. The company had a trading volume of 97,553 shares. The stock’s 50-day moving average is $17.02 and its 200 day moving average is $17.19. Radware has a 52 week low of $11.46 and a 52 week high of $18.33. The company’s market capitalization is $753.28 million.
Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $50.96 million for the quarter, compared to analyst estimates of $50.19 million. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. Radware’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Equities analysts expect that Radware will post $0.14 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Radware by 8.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,958 shares of the information technology services provider’s stock valued at $122,000 after purchasing an additional 535 shares during the period. US Bancorp DE grew its holdings in Radware by 5.0% in the second quarter. US Bancorp DE now owns 16,535 shares of the information technology services provider’s stock valued at $290,000 after purchasing an additional 784 shares during the period. State Street Corp grew its holdings in Radware by 1.0% in the second quarter. State Street Corp now owns 240,567 shares of the information technology services provider’s stock valued at $4,220,000 after purchasing an additional 2,489 shares during the period. Vanguard Group Inc. grew its holdings in Radware by 24.1% in the second quarter. Vanguard Group Inc. now owns 15,950 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 3,101 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Radware by 2.2% in the second quarter. Goldman Sachs Group Inc. now owns 162,980 shares of the information technology services provider’s stock valued at $2,859,000 after purchasing an additional 3,568 shares during the period. 61.09% of the stock is currently owned by 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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