Radware (RDWR) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research report sent to investors 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) “

RDWR has been the subject of several other reports. BidaskClub downgraded shares of Radware from a buy rating to a hold rating in a research note on Wednesday, August 29th. Barclays reiterated a buy rating and set a $30.00 price objective on shares of Radware in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $28.40.

RDWR traded down $0.53 during trading on Tuesday, hitting $24.60. The stock had a trading volume of 7,041 shares, compared to its average volume of 178,750. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -205.42, a price-to-earnings-growth ratio of 8.59 and a beta of 1.09. Radware has a twelve month low of $18.00 and a twelve month high of $28.50.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, November 7th. The information technology services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The company had revenue of $58.80 million during the quarter, compared to the consensus estimate of $58.14 million. Radware had a net margin of 0.59% and a return on equity of 0.20%. Radware’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. As a group, research analysts anticipate that Radware will post 0.14 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of RDWR. Acadian Asset Management LLC lifted its position in Radware by 155.3% during the third quarter. Acadian Asset Management LLC now owns 1,792,713 shares of the information technology services provider’s stock valued at $47,451,000 after purchasing an additional 1,090,520 shares during the period. Cadian Capital Management LP lifted its position in Radware by 22.7% during the second quarter. Cadian Capital Management LP now owns 3,628,284 shares of the information technology services provider’s stock valued at $91,723,000 after purchasing an additional 671,149 shares during the period. Legal & General Group Plc lifted its position in Radware by 26.9% during the second quarter. Legal & General Group Plc now owns 1,027,907 shares of the information technology services provider’s stock valued at $25,986,000 after purchasing an additional 217,858 shares during the period. First Trust Advisors LP lifted its position in Radware by 95.7% during the third quarter. First Trust Advisors LP now owns 298,014 shares of the information technology services provider’s stock valued at $7,888,000 after purchasing an additional 145,696 shares during the period. Finally, BlackRock Inc. lifted its position in Radware by 24.0% during the first quarter. BlackRock Inc. now owns 505,806 shares of the information technology services provider’s stock valued at $10,799,000 after purchasing an additional 97,844 shares during the period. Institutional investors and hedge funds own 63.23% of the company’s stock.

Radware Company Profile

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in virtual, cloud, and software defined data centers worldwide. The company offers application and network security solutions, such as DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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