Needham & Company LLC Boosts Radware (RDWR) Price Target to $24.50

Radware (NASDAQ:RDWR) had its price objective increased by Needham & Company LLC from $23.00 to $24.50 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 17.45% from the company’s previous close.

Several other research analysts have also weighed in on the stock. BidaskClub raised shares of Radware from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Dougherty & Co lifted their price objective on shares of Radware from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Thursday, January 4th. Finally, Barclays lifted their price objective on shares of Radware from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.07.

Radware (NASDAQ:RDWR) traded up $0.21 during trading on Thursday, reaching $20.86. 243,742 shares of the company traded hands, compared to its average volume of 189,824. Radware has a twelve month low of $15.13 and a twelve month high of $21.26. The company has a market cap of $906.99, a price-to-earnings ratio of -130.38, a price-to-earnings-growth ratio of 57.15 and a beta of 1.00.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Radware had a negative net margin of 3.55% and a negative return on equity of 1.77%. 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 quarterly revenue was up 13.2% compared to the same quarter last year. analysts predict that Radware will post 0.02 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Senvest Management LLC lifted its stake in Radware by 4.6% in the third quarter. Senvest Management LLC now owns 5,990,375 shares of the information technology services provider’s stock valued at $100,998,000 after buying an additional 263,014 shares in the last quarter. BlackRock Inc. lifted its stake in Radware by 24.1% in the fourth quarter. BlackRock Inc. now owns 407,962 shares of the information technology services provider’s stock valued at $7,915,000 after buying an additional 79,326 shares in the last quarter. AXA lifted its stake in Radware by 8.8% in 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 in the last quarter. State Street Corp lifted 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 buying an additional 2,489 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Radware by 2.2% in the second quarter. California Public Employees Retirement System now owns 188,600 shares of the information technology services provider’s stock valued at $3,308,000 after buying an additional 4,100 shares in the last quarter. 61.44% 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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