Needham & Company LLC initiated coverage on shares of Radware (NASDAQ:RDWR) in a report published on Wednesday, TipRanks reports. The firm issued a hold rating on the information technology services provider’s stock.

Several other analysts have also commented on the stock. Oppenheimer reaffirmed a buy rating and issued a $27.00 price objective on shares of Radware in a research report on Wednesday, May 6th. Zacks Investment Research raised shares of Radware from a sell rating to a hold rating in a research report on Tuesday, June 30th. Berenberg Bank lowered shares of Radware from a buy rating to a hold rating in a research report on Wednesday, April 1st. Barclays lowered their price objective on shares of Radware from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Thursday, May 7th. Finally, ValuEngine lowered shares of Radware from a buy rating to a hold rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $26.33.

Radware stock opened at $25.55 on Wednesday. Radware has a fifty-two week low of $16.02 and a fifty-two week high of $26.99. The stock has a market cap of $1.20 billion, a PE ratio of 70.97, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. The firm’s 50-day simple moving average is $24.40 and its 200 day simple moving average is $23.42.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $58.40 million for the quarter, compared to analyst estimates of $57.99 million. Radware had a net margin of 7.12% and a return on equity of 5.88%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts predict that Radware will post 0.41 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Radware by 33.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,032 shares of the information technology services provider’s stock valued at $213,000 after purchasing an additional 2,244 shares during the period. Congress Asset Management Co. MA grew its stake in Radware by 2.2% during the second quarter. Congress Asset Management Co. MA now owns 167,861 shares of the information technology services provider’s stock valued at $3,960,000 after acquiring an additional 3,683 shares in the last quarter. First Trust Advisors LP grew its stake in Radware by 110.5% during the second quarter. First Trust Advisors LP now owns 271,432 shares of the information technology services provider’s stock valued at $6,403,000 after acquiring an additional 142,456 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in Radware by 8.2% during the second quarter. Taylor Frigon Capital Management LLC now owns 108,158 shares of the information technology services provider’s stock valued at $2,551,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Davy Global Fund Management Ltd purchased a new position in Radware during the second quarter valued at approximately $332,000. 71.51% of the stock is currently owned by institutional investors.

About Radware

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers 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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