Radware (NASDAQ:RDWR) Stock Rating Upgraded by Wall Street Zen
by Amy Steele · The Cerbat GemRadware (NASDAQ:RDWR – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
Several other brokerages have also weighed in on RDWR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Jefferies Financial Group set a $25.00 target price on shares of Radware in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Radware presently has a consensus rating of “Hold” and an average price target of $30.00.
Read Our Latest Analysis on RDWR
Radware Stock Performance
Shares of NASDAQ:RDWR opened at $27.20 on Friday. Radware has a 1 year low of $18.46 and a 1 year high of $31.57. The business has a fifty day simple moving average of $25.26 and a 200 day simple moving average of $24.84. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 60.45 and a beta of 0.87.
Radware (NASDAQ:RDWR – Get Free Report) last issued its earnings results on Wednesday, February 11th. The information technology services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts forecast that Radware will post 0.28 EPS for the current year.
Radware declared that its board has initiated a share repurchase plan on Friday, February 13th that permits the company to repurchase $80.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of RDWR. Pacer Advisors Inc. grew its position in shares of Radware by 80.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,230 shares of the information technology services provider’s stock valued at $102,000 after purchasing an additional 1,889 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Radware during the 4th quarter worth about $766,000. Lazard Asset Management LLC boosted its stake in Radware by 89.0% during the 4th quarter. Lazard Asset Management LLC now owns 83,556 shares of the information technology services provider’s stock valued at $2,013,000 after purchasing an additional 39,338 shares during the period. Defiance ETFs LLC bought a new stake in Radware during the 4th quarter valued at approximately $9,152,000. Finally, Amundi acquired a new stake in Radware in the 4th quarter valued at approximately $378,000. Institutional investors and hedge funds own 73.12% of the company’s stock.
Radware Company Profile
Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.
Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.