Radware (NASDAQ:RDWR) Shares Gap Up to $17.22

Radware Ltd. (NASDAQ:RDWR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $17.22, but opened at $18.36. Radware shares last traded at $18.08, with a volume of 36,464 shares traded.

Analyst Ratings Changes

Several research analysts have recently commented on RDWR shares. StockNews.com raised shares of Radware from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. Barclays upped their target price on Radware from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th.

Radware Stock Performance

The company has a market cap of $821.51 million, a P/E ratio of -36.94 and a beta of 0.97. The stock’s fifty day moving average price is $18.00 and its two-hundred day moving average price is $17.07.

Radware (NASDAQ:RDWR) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Radware had a negative return on equity of 2.88% and a negative net margin of 8.26%. The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $64.01 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. Radware’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts forecast that Radware Ltd. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Radware

A number of hedge funds have recently made changes to their positions in RDWR. First Trust Advisors LP boosted its position in Radware by 90.4% in the fourth quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock valued at $40,815,000 after buying an additional 1,161,535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Radware by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,654,735 shares of the information technology services provider’s stock worth $27,601,000 after purchasing an additional 308,396 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in Radware in the third quarter valued at about $6,902,000. Citigroup Inc. boosted its stake in shares of Radware by 16.8% during the third quarter. Citigroup Inc. now owns 101,821 shares of the information technology services provider’s stock valued at $1,723,000 after purchasing an additional 14,623 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Radware in the 4th quarter valued at approximately $445,000. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Radware Company Profile

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware's Core Business and The Hawks' Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.