Radware Ltd. (RDWR) Lifted to “Buy” at Zacks Investment Research
Radware Ltd. (NASDAQ:RDWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $15.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 8.77% from the stock’s previous close.
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 price target on shares of Radware in a research report on Monday, July 25th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.56.
Shares of Radware (NASDAQ:RDWR) opened at 13.79 on Wednesday. The firm has a 50-day moving average of $13.53 and a 200 day moving average of $12.06. Radware has a 12 month low of $9.98 and a 12 month high of $17.38. The firm has a market cap of $605.99 million, a P/E ratio of 725.79 and a beta of 1.34.
Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $49.60 million for the quarter, compared to the consensus estimate of $49.57 million. During the same period last year, the business earned $0.23 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that Radware will post $0.33 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes 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. 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. Renaissance Technologies LLC raised its stake in shares of Radware by 338.5% in the first quarter. Renaissance Technologies LLC now owns 121,900 shares of the company’s stock valued at $1,442,000 after buying an additional 94,100 shares in the last quarter. Credit Agricole S A raised its stake in shares of Radware by 392.1% in the first quarter. Credit Agricole S A now owns 184,960 shares of the company’s stock valued at $2,188,000 after buying an additional 147,374 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Radware by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 137,372 shares of the company’s stock valued at $1,625,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 63.27% 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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