Zacks Investment Research Lowers Radware (RDWR) to Sell

Radware (NASDAQ:RDWR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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) “

A number of other equities research analysts have also issued reports on the company. Barclays set a $24.00 target price on Radware and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their target price on Radware from $23.00 to $24.50 and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised Radware from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Finally, Dougherty & Co lifted their target price on Radware from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Radware presently has an average rating of “Buy” and a consensus target price of $22.07.

Shares of Radware (NASDAQ RDWR) opened at $20.86 on Friday. The company has a market capitalization of $933.07, a PE ratio of -77.26, a PEG ratio of 56.58 and a beta of 1.00. Radware has a 1 year low of $15.13 and a 1 year high of $21.26.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. Radware had a negative return on equity of 1.77% and a negative net margin of 3.55%. The business had revenue of $58.50 million for the quarter, compared to analyst estimates of $55.93 million. During the same quarter last year, the firm earned $0.06 EPS. Radware’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities research analysts predict that Radware will post 0.02 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of RDWR. Migdal Insurance & Financial Holdings Ltd. grew 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. Ellington Management Group LLC bought a new position in Radware in the fourth quarter valued at approximately $152,000. Balter Liquid Alternatives LLC bought a new position in Radware in the second quarter valued at approximately $198,000. Magnetar Financial LLC bought a new position in Radware in the third quarter valued at approximately $206,000. Finally, Aperio Group LLC bought a new position in Radware in the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 61.44% of the company’s stock.

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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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