Radware Ltd. (RDWR) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Radware Ltd. (NASDAQ:RDWR) have earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.07.
A number of equities analysts have recently weighed in on RDWR shares. Oppenheimer Holdings Inc. set a $17.00 price target on Radware and gave the stock a “buy” rating in a report on Wednesday, February 8th. Jefferies Group LLC reiterated a “buy” rating and set a $18.50 price target on shares of Radware in a report on Thursday, February 9th. Needham & Company LLC increased their price target on Radware from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Dougherty & Co upgraded Radware from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.50 to $18.50 in a report on Tuesday, April 25th. Finally, Zacks Investment Research upgraded Radware from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a report on Wednesday, April 26th.
Radware (NASDAQ:RDWR) traded up 0.87% on Friday, reaching $17.30. 143,535 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $16.30 and a 200-day moving average price of $15.02. Radware has a 52 week low of $10.68 and a 52 week high of $17.74. The stock’s market capitalization is $747.79 million.
Radware (NASDAQ:RDWR) last issued its earnings results on Tuesday, April 25th. The information technology services provider reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The company had revenue of $48.90 million during the quarter, compared to analysts’ expectations of $47.87 million. Radware had a negative return on equity of 0.84% and a negative net margin of 4.40%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, analysts predict that Radware will post $0.16 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its position in Radware by 33.6% in the third quarter. Morgan Stanley now owns 1,924,348 shares of the information technology services provider’s stock valued at $26,440,000 after buying an additional 483,761 shares during the last quarter. Penserra Capital Management LLC raised its position in 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 valued at $28,724,000 after buying an additional 81,863 shares during the last quarter. Perkins Investment Management LLC raised its position in Radware by 7.5% in the third quarter. Perkins Investment Management LLC now owns 1,626,397 shares of the information technology services provider’s stock valued at $22,347,000 after buying an additional 114,056 shares during the last quarter. Renaissance Technologies LLC raised its position in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock valued at $7,771,000 after buying an additional 191,597 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in Radware during the first quarter valued at about $6,951,000. 62.31% of the stock is currently owned by hedge funds and other institutional investors.
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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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