Radware (RDWR) Upgraded by Zacks Investment Research to Buy

Radware (NASDAQ:RDWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $22.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.62% from the company’s current price.

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) “

RDWR has been the topic of several other reports. Barclays boosted their price objective on Radware from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Dougherty & Co boosted their price objective on Radware from $18.50 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group reissued a “buy” rating on shares of Radware in a research note on Friday, October 6th. BidaskClub cut Radware from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Radware in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.00.

Radware (RDWR) traded up $0.26 during trading hours on Thursday, hitting $19.71. The company had a trading volume of 213,300 shares, compared to its average volume of 195,000. The stock has a market capitalization of $845.68, a P/E ratio of -75.80, a P/E/G ratio of 48.44 and a beta of 1.06. Radware has a 12 month low of $14.12 and a 12 month high of $20.78.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXA grew its stake in shares of Radware by 8.8% during the third quarter. AXA now owns 321,000 shares of the information technology services provider’s stock valued at $5,412,000 after buying an additional 26,000 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Radware during the third quarter valued at approximately $234,000. Cubist Systematic Strategies LLC bought a new position in shares of Radware during the third quarter valued at approximately $305,000. Granahan Investment Management Inc. MA grew its stake in Radware by 4.2% in the third quarter. Granahan Investment Management Inc. MA now owns 128,028 shares of the information technology services provider’s stock worth $2,159,000 after purchasing an additional 5,116 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Radware in the third quarter worth approximately $507,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

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About Radware

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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