Imperial Capital reissued their outperform rating on shares of Radware Ltd. (NASDAQ:RDWR) in a research report released on Thursday. They currently have a $21.00 target price on the information technology services provider’s stock, up from their prior target price of $20.00. Imperial Capital also issued estimates for Radware’s Q3 2017 earnings at ($0.04) EPS, Q4 2017 earnings at ($0.01) EPS, FY2017 earnings at ($0.14) EPS and FY2018 earnings at ($0.05) EPS.
A number of other analysts have also issued reports on the company. Dougherty & Co raised Radware from a neutral rating to a buy rating and raised their price target for the stock from $16.50 to $18.50 in a research note on Tuesday, April 25th. Jefferies Group LLC raised their price target on Radware from $18.50 to $20.00 and gave the stock a buy rating in a research note on Friday, April 28th. Zacks Investment Research raised Radware from a sell rating to a hold rating and set a $19.00 price target on the stock in a research note on Wednesday, April 26th. Needham & Company LLC raised their price target on Radware from $18.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, April 26th. Finally, Oppenheimer Holdings, Inc. set a $17.00 price target on Radware and gave the stock a buy rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Radware has an average rating of Buy and a consensus price target of $18.44.
Shares of Radware (RDWR) traded up 0.64% during mid-day trading on Thursday, reaching $17.34. 141,151 shares of the company traded hands. The stock’s market capitalization is $759.86 million. Radware has a 52-week low of $11.46 and a 52-week high of $18.33. The company’s 50 day moving average is $17.68 and its 200 day moving average is $16.65.
Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $50.19 million. During the same period last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast 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 plan on Tuesday, April 25th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase 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.
Several institutional investors have recently added to or reduced their stakes in the stock. Balter Liquid Alternatives LLC purchased a new position in Radware during the second quarter valued at $198,000. Aperio Group LLC purchased a new position in Radware during the second quarter valued at $210,000. US Bancorp DE raised 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 in the last quarter. KCG Holdings Inc. raised 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 in the last quarter. Finally, Oxford Asset Management purchased a new position in Radware during the first quarter valued at $270,000. 63.59% of the stock is currently owned by institutional investors and hedge funds.
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.
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