Zacks Investment Research cut shares of Radware Ltd. (NASDAQ:RDWR) from a hold rating to a sell rating in a report published on Tuesday.

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 research analysts also recently commented on RDWR. Oppenheimer Holdings, Inc. set a $17.00 target price on Radware and gave the company a buy rating in a research note 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. 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. Finally, BidaskClub cut Radware from a buy rating to a hold rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Radware has an average rating of Hold and a consensus target price of $18.31.

Radware (RDWR) traded up 0.17% during trading on Tuesday, hitting $17.61. The stock had a trading volume of 55,026 shares. Radware has a 1-year low of $11.46 and a 1-year high of $18.33. The firm’s 50 day moving average is $17.73 and its 200 day moving average is $16.54. The firm’s market cap is $771.69 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. On average, analysts anticipate that Radware will post $0.14 earnings per share for the current year.

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Radware declared that its board has authorized a stock repurchase program on Tuesday, April 25th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of RDWR. Balter Liquid Alternatives LLC purchased a new position in Radware during the second quarter valued at approximately $198,000. Aperio Group LLC purchased a new position in Radware during the second quarter valued at approximately $210,000. US Bancorp DE boosted its position in Radware by 142.2% in the first quarter. US Bancorp DE now owns 15,751 shares of the information technology services provider’s stock valued at $254,000 after buying an additional 9,248 shares during the period. KCG Holdings Inc. boosted its position in Radware by 46.2% in the first quarter. KCG Holdings Inc. now owns 15,782 shares of the information technology services provider’s stock valued at $255,000 after buying an additional 4,984 shares during the period. Finally, Oxford Asset Management purchased a new position in Radware during the first quarter valued at approximately $270,000. 63.59% of the stock is owned by institutional investors and hedge funds.

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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