Needham & Company LLC reaffirmed their buy rating on shares of Radware Ltd. (NASDAQ:RDWR) in a research report released on Wednesday. Needham & Company LLC currently has a $14.00 price target on the stock.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Radware from a sell rating to a buy rating and set a $12.00 price objective on the stock in a research note on Wednesday, July 6th. DA Davidson set a $15.00 price target on Radware and gave the stock a buy rating in a research note on Monday. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Radware in a research note on Monday. Finally, Imperial Capital reiterated an outperform rating and issued a $15.00 price target on shares of Radware in a research note on Monday, July 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Radware currently has a consensus rating of Hold and an average target price of $15.43.
Shares of Radware (NASDAQ:RDWR) opened at 12.48 on Wednesday. The firm has a market capitalization of $548.42 million, a PE ratio of 656.84 and a beta of 1.23. Radware has a 52-week low of $9.98 and a 52-week high of $16.66. The firm’s 50-day moving average price is $13.49 and its 200-day moving average price is $12.18.
Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The company had revenue of $49.60 million for the quarter, compared to analysts’ expectations of $49.57 million. Radware had a return on equity of 2.04% and a net margin of 0.42%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts predict that Radware will post $0.33 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Radware by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,723,472 shares of the company’s stock valued at $20,389,000 after buying an additional 18,406 shares in the last quarter. Sirios Capital Management L P raised its stake in shares of Radware by 1.5% in the second quarter. Sirios Capital Management L P now owns 1,564,059 shares of the company’s stock valued at $17,611,000 after buying an additional 22,653 shares in the last quarter. Suffolk Capital Management LLC raised its stake in shares of Radware by 17.8% in the second quarter. Suffolk Capital Management LLC now owns 260,692 shares of the company’s stock valued at $2,935,000 after buying an additional 39,304 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Radware by 51.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 208,589 shares of the company’s stock valued at $2,349,000 after buying an additional 71,217 shares in the last quarter. Finally, Harber Asset Management LLC purchased a new stake in shares of Radware during the second quarter valued at $2,291,000. 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.
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