Zacks Investment Research upgraded shares of Radware Ltd. (NASDAQ:RDWR) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $15.00 price target on the stock.
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) “
Separately, Imperial Capital reaffirmed an outperform rating and issued a $15.00 target price on shares of Radware in a research report on Monday, July 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Radware presently has a consensus rating of Hold and a consensus target price of $16.56.
Radware (NASDAQ:RDWR) opened at 13.75 on Wednesday. The firm has a 50-day moving average price of $13.59 and a 200 day moving average price of $12.12. Radware has a 12 month low of $9.98 and a 12 month high of $16.66. The company has a market capitalization of $604.23 million, a P/E ratio of 723.68 and a beta of 1.22.
Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Radware had a return on equity of 2.04% and a net margin of 0.42%. The firm earned $49.60 million during the quarter, compared to analyst estimates of $49.57 million. During the same period last year, the company posted $0.23 EPS. The business’s quarterly revenue was down 11.4% on a year-over-year basis. Analysts expect that Radware will post $0.33 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Radware during the second quarter worth approximately $114,000. Geode Capital Management LLC increased its position in shares of Radware by 104.5% in the first quarter. Geode Capital Management LLC now owns 32,276 shares of the company’s stock worth $381,000 after buying an additional 16,490 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Radware by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 39,233 shares of the company’s stock worth $442,000 after buying an additional 4,907 shares during the last quarter. Swiss National Bank increased its position in shares of Radware by 78.8% in the second quarter. Swiss National Bank now owns 65,100 shares of the company’s stock worth $733,000 after buying an additional 28,700 shares during the last quarter. Finally, Numeric Investors LLC acquired a new position in shares of Radware during the second quarter worth $752,000. 63.27% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Radware Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radware Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.