Radware Ltd. (RDWR) Earns Buy Rating from Jefferies Group LLC
Radware Ltd. (NASDAQ:RDWR)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a research note issued to investors on Friday.
Several other equities research analysts have also issued reports on RDWR. BidaskClub lowered shares of Radware from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target (up previously from $19.00) on shares of Radware in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Radware from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Imperial Capital restated an “outperform” rating and issued a $21.00 target price (up previously from $20.00) on shares of Radware in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.36.
Radware (RDWR) opened at 17.20 on Friday. Radware has a 52-week low of $11.46 and a 52-week high of $18.33. The stock has a 50 day moving average of $17.08 and a 200-day moving average of $17.10. The company’s market capitalization is $753.72 million.
Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.06. The firm had revenue of $50.96 million for the quarter, compared to analyst estimates of $50.19 million. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts forecast that Radware will post $0.14 earnings per share for the current year.
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Several large investors have recently modified their holdings of RDWR. ETF Managers Group LLC acquired a new stake in shares of Radware in the 2nd quarter valued at $40,097,000. Ion Asset Management Ltd. boosted its stake in shares of Radware by 18.7% in the 2nd quarter. Ion Asset Management Ltd. now owns 1,753,275 shares of the information technology services provider’s stock valued at $30,753,000 after purchasing an additional 276,780 shares in the last quarter. HighVista Strategies LLC acquired a new stake in shares of Radware in the 1st quarter valued at $3,660,000. Renaissance Technologies LLC boosted its stake in shares of Radware by 66.2% in the 1st quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock valued at $7,771,000 after purchasing an additional 191,597 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Radware by 130.8% in the 1st quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock valued at $5,365,000 after purchasing an additional 188,139 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.
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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