Radware Ltd. (RDWR) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Radware Ltd. (NASDAQ:RDWR) from a buy rating to a hold rating in a report published on Tuesday, July 25th.

A number of other equities analysts have also weighed in on the company. Jefferies Group LLC increased their price target on Radware from $18.50 to $20.00 and gave the company a buy rating in a research report on Friday, April 28th. Needham & Company LLC increased their price objective on Radware from $18.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, April 26th. Zacks Investment Research raised Radware from a sell rating to a hold rating and set a $19.00 price objective for the company in a research note on Wednesday, April 26th. Dougherty & Co raised Radware from a neutral rating to a buy rating and increased their price objective for the stock from $16.50 to $18.50 in a research note on Tuesday, April 25th. Finally, Oppenheimer Holdings, Inc. set a $17.00 price objective on Radware and gave the company 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 issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $18.44.

Radware (NASDAQ:RDWR) traded up 0.64% during mid-day trading on Tuesday, reaching $17.34. 141,151 shares of the company’s stock traded hands. The stock’s 50 day moving average is $17.68 and its 200-day moving average is $16.65. Radware has a 52 week low of $11.46 and a 52 week high of $18.33. The stock’s market capitalization is $759.86 million.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $50.96 million during the quarter, compared to analysts’ expectations of $50.19 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Radware will post $0.14 EPS for the current year.

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Radware declared that its board has initiated a share repurchase plan on Tuesday, April 25th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in Radware by 5.0% in the second quarter. US Bancorp DE now owns 16,535 shares of the information technology services provider’s stock valued at $290,000 after buying an additional 784 shares in the last quarter. Vanguard Group Inc. boosted its position in Radware by 24.1% in the second quarter. Vanguard Group Inc. now owns 15,950 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 3,101 shares in the last quarter. California Public Employees Retirement System boosted its position in Radware by 2.2% in the second quarter. California Public Employees Retirement System now owns 188,600 shares of the information technology services provider’s stock valued at $3,308,000 after buying an additional 4,100 shares in the last quarter. Wells Fargo & Company MN boosted its position in Radware by 8.3% in the second quarter. Wells Fargo & Company MN now owns 54,877 shares of the information technology services provider’s stock valued at $963,000 after buying an additional 4,217 shares in the last quarter. Finally, KCG Holdings Inc. boosted 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. 63.59% of the stock is owned by hedge funds and other institutional investors.

Radware Company Profile

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.

Analyst Recommendations for Radware (NASDAQ:RDWR)

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