Radware Ltd. (NASDAQ:RDWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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) “
RDWR has been the subject of a number of other reports. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Radware in a research report on Monday. DA Davidson set a $15.00 price objective on shares of Radware and gave the company a “buy” rating in a report on Monday. Imperial Capital reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Radware in a report on Monday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Radware in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.43.
Shares of Radware (NASDAQ:RDWR) opened at 12.48 on Thursday. Radware has a 52 week low of $9.98 and a 52 week high of $16.66. The stock has a market cap of $548.42 million, a price-to-earnings ratio of 656.84 and a beta of 1.23. The firm has a 50-day moving average price of $13.49 and a 200-day moving average price of $12.18.
Radware (NASDAQ:RDWR) last posted its earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company earned $49.60 million during the quarter, compared to the consensus estimate of $49.57 million. Radware had a net margin of 0.42% and a return on equity of 2.04%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that Radware will post $0.33 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Numeric Investors LLC bought a new stake in Radware during the second quarter worth approximately $752,000. Harber Asset Management LLC bought a new stake in Radware during the second quarter worth approximately $2,291,000. State Street Corp boosted its stake in Radware by 125.2% in the second quarter. State Street Corp now owns 161,375 shares of the company’s stock worth $1,817,000 after buying an additional 89,717 shares in the last quarter. Sirios Capital Management L P boosted its stake in Radware by 1.5% in the second quarter. Sirios Capital Management L P now owns 1,564,059 shares of the company’s stock worth $17,611,000 after buying an additional 22,653 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted 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. 63.27% of the stock is owned by institutional investors and hedge funds.
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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