Dougherty & Co Raises Radware Ltd. (RDWR) Price Target to $22.00
Radware Ltd. (NASDAQ:RDWR) had its price target increased by stock analysts at Dougherty & Co from $18.50 to $22.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the information technology services provider’s stock. Dougherty & Co’s price target would suggest a potential upside of 25.43% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Radware from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating on shares of Radware in a research note on Friday, October 6th. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Radware in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Radware from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Imperial Capital reissued an “outperform” rating and set a $21.00 target price (up previously from $20.00) on shares of Radware in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.25.
Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $50.19 million. During the same quarter last year, the firm earned $0.06 earnings per share. Radware’s quarterly revenue was up 2.8% on a year-over-year basis.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in Radware by 8.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,958 shares of the information technology services provider’s stock valued at $122,000 after purchasing an additional 535 shares in the last quarter. State Street Corp increased its stake in Radware by 1.0% in the second quarter. State Street Corp now owns 240,567 shares of the information technology services provider’s stock valued at $4,220,000 after purchasing an additional 2,489 shares in the last quarter. ETF Managers Group LLC bought a new stake in Radware in the second quarter valued at $40,097,000. Intrinsic Edge Capital Management LLC bought a new stake in Radware in the second quarter valued at $1,909,000. Finally, Goldman Sachs Group Inc. increased its stake in Radware by 2.2% in the second quarter. Goldman Sachs Group Inc. now owns 162,980 shares of the information technology services provider’s stock valued at $2,859,000 after purchasing an additional 3,568 shares in the last quarter. 60.71% of the stock is 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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