Radware Ltd. (NASDAQ:RDWR) Stock Rating Lowered by Zacks Investment Research
Radware Ltd. (NASDAQ:RDWR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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) “
A number of other equities research analysts have also recently issued reports on RDWR. Oppenheimer Holdings, Inc. set a $17.00 target price on shares of Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Dougherty & Co upgraded shares of Radware from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.50 to $18.50 in a research report on Tuesday, April 25th. Needham & Company LLC increased their target price on shares of Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Jefferies Group LLC increased their target price on shares of Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, BidaskClub cut shares of Radware from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.44.
Radware (NASDAQ RDWR) opened at 17.64 on Tuesday. Radware has a 1-year low of $11.46 and a 1-year high of $18.33. The firm’s 50-day moving average is $17.72 and its 200-day moving average is $16.62. The firm’s market capitalization is $773.00 million.
Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The business had revenue of $50.96 million during the quarter, compared to analysts’ expectations of $50.19 million. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. On average, equities analysts anticipate that Radware will post $0.14 EPS for the current year.
Radware announced that its Board of Directors has approved a share repurchase program on Tuesday, April 25th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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A number of large investors have recently modified their holdings of RDWR. Renaissance Technologies LLC raised its stake in shares of Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock worth $7,771,000 after buying an additional 191,597 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock worth $5,365,000 after buying an additional 188,139 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Radware by 24.1% in the first quarter. JPMorgan Chase & Co. now owns 41,508 shares of the information technology services provider’s stock worth $671,000 after buying an additional 8,073 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Radware during the first quarter worth approximately $3,162,000. Finally, Penserra Capital Management LLC raised its stake in shares of Radware by 4.8% in the first quarter. Penserra Capital Management LLC now owns 1,777,524 shares of the information technology services provider’s stock worth $28,724,000 after buying an additional 81,863 shares in the last quarter. 63.59% of the stock is currently owned by hedge funds and other institutional investors.
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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