Radware Ltd. (NASDAQ:RDWR) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Other analysts have also recently issued research reports about the stock. Dougherty & Co raised shares of Radware from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.50 to $18.50 in a research report on Tuesday, April 25th. Oppenheimer Holdings, Inc. set a $17.00 price target on shares of Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target (up previously from $19.00) on shares of Radware in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Radware from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Imperial Capital reissued an “outperform” rating and set a $21.00 price target (up previously from $20.00) on shares of Radware in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Radware has a consensus rating of “Buy” and a consensus target price of $18.44.
Radware (NASDAQ:RDWR) traded up 0.64% on Thursday, reaching $17.34. 141,151 shares of the company’s stock were exchanged. Radware has a one year low of $11.46 and a one year high of $18.33. The stock’s market cap is $759.86 million. The firm has a 50 day moving average of $17.68 and a 200-day moving average of $16.65.
Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.06. The business had revenue of $50.96 million for the quarter, compared to analysts’ expectations of $50.19 million. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. Equities research analysts forecast that Radware will post $0.14 EPS for the current fiscal year.
Radware announced that its board has authorized a share buyback program on Tuesday, April 25th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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Several hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in Radware during the first quarter worth $6,951,000. HighVista Strategies LLC purchased a new stake in Radware during the first quarter worth $3,660,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Radware during the first quarter worth $3,162,000. Renaissance Technologies LLC raised its stake in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock worth $7,771,000 after buying an additional 191,597 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock worth $5,365,000 after buying an additional 188,139 shares during the last quarter. Hedge funds and other institutional investors own 63.59% of the company’s stock.
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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