Zacks Investment Research lowered shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research note released on Tuesday 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) “

A number of other analysts have also recently commented on the company. BidaskClub cut Radware from a hold rating to a sell rating in a research report on Saturday, October 6th. Barclays reissued a buy rating and issued a $30.00 price target on shares of Radware in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $28.80.

Shares of RDWR traded down $0.53 during mid-day trading on Tuesday, reaching $24.60. The company had a trading volume of 326,732 shares, compared to its average volume of 196,388. Radware has a 52 week low of $18.00 and a 52 week high of $28.50. The stock has a market cap of $1.09 billion, a P/E ratio of -205.00, a P/E/G ratio of 8.87 and a beta of 1.09.

Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, November 7th. The information technology services provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Radware had a return on equity of 1.85% and a net margin of 2.58%. The firm had revenue of $58.80 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the previous year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Radware will post 0.15 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Radware by 13.1% in the 2nd quarter. US Bancorp DE now owns 23,407 shares of the information technology services provider’s stock worth $591,000 after purchasing an additional 2,715 shares in the last quarter. BlackRock Inc. lifted its position in Radware by 24.0% in the 1st quarter. BlackRock Inc. now owns 505,806 shares of the information technology services provider’s stock valued at $10,799,000 after acquiring an additional 97,844 shares in the last quarter. Acadian Asset Management LLC lifted its position in Radware by 155.3% in the 3rd quarter. Acadian Asset Management LLC now owns 1,792,713 shares of the information technology services provider’s stock valued at $47,451,000 after acquiring an additional 1,090,520 shares in the last quarter. Granahan Investment Management Inc. MA lifted its position in Radware by 9.5% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 203,366 shares of the information technology services provider’s stock valued at $5,141,000 after acquiring an additional 17,615 shares in the last quarter. Finally, United Services Automobile Association lifted its position in Radware by 9.5% in the 2nd quarter. United Services Automobile Association now owns 203,165 shares of the information technology services provider’s stock valued at $5,136,000 after acquiring an additional 17,600 shares in the last quarter. 63.23% of the stock is currently owned by hedge funds and other institutional investors.

About Radware

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in virtual, cloud, and software defined data centers worldwide. The company offers application and network security solutions, such as DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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