Radware Ltd. (NASDAQ:RDWR) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other brokerages have also recently weighed in on RDWR. Zacks Investment Research cut Radware from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. set a $17.00 price target on Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Dougherty & Co raised Radware from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.50 to $18.50 in a research report on Tuesday, April 25th. Needham & Company LLC boosted their price target on Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC boosted their price target on Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Radware currently has a consensus rating of “Buy” and an average target price of $18.31.

Shares of Radware (NASDAQ RDWR) traded up 0.86% during midday trading on Friday, hitting $17.51. The company had a trading volume of 203,097 shares. Radware has a one year low of $11.46 and a one year high of $18.33. The company’s 50 day moving average is $17.77 and its 200 day moving average is $16.53. The firm’s market cap is $767.31 million.

Radware (NASDAQ:RDWR) last issued its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. Radware had a negative return on equity of 2.14% and a negative net margin of 6.41%. The firm had revenue of $50.96 million for the quarter, compared to the consensus estimate of $50.19 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Radware will post $0.14 earnings per share for the current fiscal year.

Radware announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 25th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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Several hedge funds have recently made changes to their positions in RDWR. Penserra Capital Management LLC boosted its stake in shares of Radware by 4.8% in the first quarter. Penserra Capital Management LLC now owns 1,777,524 shares of the information technology services provider’s stock worth $28,724,000 after buying an additional 81,863 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Radware by 5.3% in the first quarter. Nuveen Asset Management LLC now owns 794,456 shares of the information technology services provider’s stock valued at $12,838,000 after buying an additional 40,114 shares in the last quarter. Renaissance Technologies LLC boosted its position in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock valued at $7,771,000 after buying an additional 191,597 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Radware during the first quarter valued at $6,951,000. Finally, Wellington Management Group LLP boosted its position in Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock valued at $5,365,000 after buying an additional 188,139 shares in the last quarter. 63.46% of the stock is owned by 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.

Analyst Recommendations for Radware (NASDAQ:RDWR)

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