Radware Ltd. (RDWR) Downgraded to Hold at Zacks Investment Research
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 subject of a number of other reports. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Radware in a report on Monday. DA Davidson set a $15.00 price objective on Radware and gave the stock a buy rating in a report on Monday. Imperial Capital reiterated an outperform rating and issued a $15.00 price objective on shares of Radware in a report on Monday, July 25th. Finally, Needham & Company LLC reiterated a buy rating and issued a $14.00 price objective on shares of Radware in a report on Wednesday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $15.43.
Shares of Radware (NASDAQ:RDWR) traded down 1.36% during midday trading on Thursday, reaching $12.31. The company’s stock had a trading volume of 37,278 shares. Radware has a 12-month low of $9.98 and a 12-month high of $16.66. The company has a market capitalization of $540.95 million, a P/E ratio of 647.89 and a beta of 1.23. The company’s 50-day moving average price is $13.47 and its 200 day moving average price is $12.18.
Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Radware had a return on equity of 2.04% and a net margin of 0.42%. The firm earned $49.60 million during the quarter, compared to analysts’ expectations of $49.57 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Radware will post $0.33 earnings per share for the current year.
A number of large investors have recently modified their holdings of RDWR. Vanguard Group Inc. bought a new stake in shares of Radware during the second quarter valued at $114,000. Geode Capital Management LLC boosted its stake in Radware by 104.5% in the first quarter. Geode Capital Management LLC now owns 32,276 shares of the company’s stock valued at $381,000 after buying an additional 16,490 shares during the period. Bank of New York Mellon Corp boosted its stake in Radware by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 39,233 shares of the company’s stock valued at $442,000 after buying an additional 4,907 shares during the period. Swiss National Bank boosted its stake in Radware by 78.8% in the second quarter. Swiss National Bank now owns 65,100 shares of the company’s stock valued at $733,000 after buying an additional 28,700 shares during the period. Finally, Numeric Investors LLC acquired a new stake in Radware during the second quarter valued at $752,000. Institutional investors own 63.27% of the company’s stock.
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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