Oppenheimer Holdings Inc. Upgrades Radware Ltd. (RDWR) to Outperform
Radware Ltd. (NASDAQ:RDWR) was upgraded by investment analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Friday.
Other analysts have also issued reports about 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 lowered Radware from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $13.00 in a research note on Wednesday, November 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Radware in a research note on Monday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Radware in a research note on Wednesday, October 12th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Radware has an average rating of “Buy” and an average price target of $14.50.
Shares of Radware (NASDAQ:RDWR) opened at 12.55 on Friday. The stock has a market cap of $551.50 million, a price-to-earnings ratio of 660.53 and a beta of 1.03. The firm has a 50-day moving average price of $12.91 and a 200-day moving average price of $12.38. Radware has a 1-year low of $9.98 and a 1-year high of $16.66.
Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. The firm had revenue of $46.90 million for the quarter, compared to analyst estimates of $47.08 million. Radware had a positive return on equity of 1.12% and a negative net margin of 1.13%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Equities analysts forecast that Radware will post $0.21 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of Radware by 33.6% in the third quarter. Morgan Stanley now owns 1,924,348 shares of the company’s stock valued at $26,440,000 after buying an additional 483,761 shares during the period. Penserra Capital Management LLC raised its position in shares of Radware by 17.5% in the third quarter. Penserra Capital Management LLC now owns 1,611,234 shares of the company’s stock valued at $22,138,000 after buying an additional 239,541 shares during the period. Harber Asset Management LLC acquired a new position in shares of Radware during the second quarter valued at approximately $2,291,000. Ameriprise Financial Inc. acquired a new position in shares of Radware during the second quarter valued at approximately $2,163,000. Finally, Senvest Management LLC raised its position in shares of Radware by 1.7% in the third quarter. Senvest Management LLC now owns 5,898,959 shares of the company’s stock valued at $81,052,000 after buying an additional 98,936 shares during the period. 63.31% of the stock is currently owned by institutional investors and hedge funds.
Radware Company Profile
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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