Radware Ltd. (NASDAQ:RDWR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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) “

Several other research analysts have also commented on the stock. Dougherty & Co upgraded shares of Radware from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.50 to $18.50 in a report on Tuesday, April 25th. Jefferies Group LLC upped their price objective on shares of Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Needham & Company LLC upped their price objective on shares of Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Oppenheimer Holdings, Inc. set a $17.00 price objective on shares of Radware and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, BidaskClub lowered shares of Radware from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.31.

Shares of Radware (NASDAQ:RDWR) opened at 17.57 on Tuesday. The firm’s market capitalization is $769.93 million. Radware has a 12-month low of $11.46 and a 12-month high of $18.33. The firm has a 50-day moving average of $17.77 and a 200-day moving average of $16.53.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.06. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The business had revenue of $50.96 million during the quarter, compared to analyst estimates of $50.19 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate that Radware will post $0.13 earnings per share for the current year.

Radware announced that its board has authorized a share buyback program on Tuesday, April 25th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several hedge funds have recently added to or reduced their stakes in RDWR. Penserra Capital Management LLC acquired a new stake in Radware during the fourth quarter worth $38,419,000. Suffolk Capital Management LLC purchased a new stake in shares of Radware during the fourth quarter valued at approximately $3,013,000. Cortina Asset Management LLC increased its stake in shares of Radware by 6.3% in the fourth quarter. Cortina Asset Management LLC now owns 600,153 shares of the information technology services provider’s stock valued at $9,206,000 after buying an additional 35,475 shares during the period. Oxford Asset Management purchased a new stake in shares of Radware during the first quarter valued at approximately $270,000. Finally, Senvest Management LLC increased its stake in shares of Radware by 1.7% in the third quarter. Senvest Management LLC now owns 5,898,959 shares of the information technology services provider’s stock valued at $81,052,000 after buying an additional 98,936 shares during the period. 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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