Radware Ltd. (RDWR) Cut to Hold at BidaskClub

Radware Ltd. (NASDAQ:RDWR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.

RDWR has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Radware from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Jefferies Group LLC boosted their target price on shares of Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Needham & Company LLC boosted their target price on shares of Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Oppenheimer Holdings, Inc. set a $17.00 target price on shares of Radware and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Dougherty & Co raised shares of Radware from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.50 to $18.50 in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.81.

Radware (NASDAQ:RDWR) traded down 0.11% on Tuesday, reaching $17.92. 38,874 shares of the company’s stock were exchanged. The stock’s market capitalization is $774.59 million. Radware has a 12 month low of $11.46 and a 12 month high of $18.33. The firm has a 50 day moving average of $17.83 and a 200 day moving average of $16.39.

Radware (NASDAQ:RDWR) last announced its earnings results on Tuesday, April 25th. The information technology services provider reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Radware had a negative net margin of 5.07% and a negative return on equity of 1.41%. The business had revenue of $48.90 million for the quarter, compared to analyst estimates of $47.87 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Radware’s revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Radware will post $0.16 earnings per share for the current fiscal year.

Radware announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 25th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Large investors have recently made changes to their positions in the stock. Aperio Group LLC acquired a new stake in shares of Radware during the second quarter valued at about $210,000. US Bancorp DE raised its stake in shares of 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. raised its stake in shares of 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. Oxford Asset Management acquired a new stake in shares of Radware during the first quarter valued at about $270,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Radware by 60.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,087 shares of the information technology services provider’s stock valued at $405,000 after buying an additional 9,451 shares during the period. 63.43% of the stock is currently owned by hedge funds and other institutional investors.

About Radware

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.