Needham & Company LLC reissued their buy rating on shares of Radware Ltd. (NASDAQ:RDWR) in a report released on Tuesday. Needham & Company LLC currently has a $21.00 price objective on the information technology services provider’s stock.
Other analysts have also recently issued reports about the company. BidaskClub raised Radware from a sell rating to a hold rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a buy rating and issued a $22.00 price objective on shares of Radware in a research report on Thursday, August 3rd. Imperial Capital reaffirmed an outperform rating and issued a $21.00 price objective (up from $20.00) on shares of Radware in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut Radware from a hold rating to a sell rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $18.44.
Radware (NASDAQ RDWR) opened at 17.06 on Tuesday. The company has a 50 day moving average price of $17.47 and a 200-day moving average price of $16.98. The company’s market capitalization is $747.59 million. Radware has a 52 week low of $11.46 and a 52 week high of $18.33.
Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. The firm had revenue of $50.96 million during the quarter, compared to analysts’ expectations of $50.19 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Radware will post $0.14 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in RDWR. ETF Managers Group LLC bought a new position in shares of Radware during the second quarter worth approximately $40,097,000. Ion Asset Management Ltd. increased its stake in shares of Radware by 18.7% during the second quarter. Ion Asset Management Ltd. now owns 1,753,275 shares of the information technology services provider’s stock worth $30,753,000 after purchasing an additional 276,780 shares during the period. HighVista Strategies LLC bought a new position in shares of Radware during the first quarter worth approximately $3,660,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Radware during the first quarter worth approximately $3,162,000. Finally, Renaissance Technologies LLC increased its stake in shares of Radware by 66.2% during the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock worth $7,771,000 after purchasing an additional 191,597 shares during the period. Institutional investors own 60.07% of the company’s stock.
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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