Radware’s (RDWR) “Buy” Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of Radware Ltd. (NASDAQ:RDWR) in a research report report published on Wednesday morning. They currently have a $14.00 target price on the stock.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Radware from a buy rating to a hold rating in a research note on Friday, July 29th. DA Davidson set a $15.00 price target on Radware and gave the stock a buy rating in a report on Monday. Oppenheimer Holdings Inc. restated a hold rating on shares of Radware in a report on Monday. Finally, Imperial Capital restated an outperform rating and set a $15.00 price target on shares of Radware in a report on Monday, July 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $15.43.
Shares of Radware (NASDAQ:RDWR) opened at 12.48 on Wednesday. The firm has a market cap of $548.42 million, a P/E ratio of 656.84 and a beta of 1.23. Radware has a 12-month low of $9.98 and a 12-month high of $16.66. The company’s 50 day moving average price is $13.49 and its 200-day moving average price is $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, 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 had revenue of $49.60 million for the quarter, compared to analyst estimates of $49.57 million. During the same quarter in the prior year, the company earned $0.23 EPS. Radware’s revenue was down 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Radware will post $0.33 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Radware by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,723,472 shares of the company’s stock worth $20,389,000 after buying an additional 18,406 shares during 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 during the last quarter. Suffolk Capital Management LLC boosted its stake in Radware by 17.8% in the second quarter. Suffolk Capital Management LLC now owns 260,692 shares of the company’s stock worth $2,935,000 after buying an additional 39,304 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Radware by 51.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 208,589 shares of the company’s stock worth $2,349,000 after buying an additional 71,217 shares during the last quarter. Finally, Harber Asset Management LLC bought a new stake in Radware during the second quarter worth $2,291,000. 63.27% of the stock is owned by 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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