Radware (NASDAQ:RDWR) Price Target Increased to $23.00 by Analysts at Barclays

Radware (NASDAQ:RDWR) had its price objective boosted by analysts at Barclays from $22.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price objective would indicate a potential upside of 2.91% from the company’s previous close.

A number of other analysts also recently issued reports on RDWR. Needham & Company LLC restated a “hold” rating on shares of Radware in a research report on Wednesday. StockNews.com downgraded Radware from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

Radware Trading Down 1.4 %

Shares of RDWR stock traded down $0.31 on Thursday, reaching $22.35. The company’s stock had a trading volume of 74,605 shares, compared to its average volume of 318,926. The stock’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $18.39. Radware has a 1 year low of $13.53 and a 1 year high of $22.96. The company has a market capitalization of $990.33 million, a price-to-earnings ratio of -48.59 and a beta of 0.98.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Radware had a negative net margin of 7.67% and a negative return on equity of 2.62%. The firm had revenue of $65.10 million during the quarter, compared to analyst estimates of $63.57 million. During the same period last year, the firm posted ($0.02) earnings per share. Radware’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts forecast that Radware will post 0.08 earnings per share for the current year.

Institutional Trading of Radware

Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in shares of Radware by 90.4% during the fourth quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock worth $40,815,000 after purchasing an additional 1,161,535 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Radware by 22.9% during the fourth 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 during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Radware by 67.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock worth $1,777,000 after purchasing an additional 39,117 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Radware during the fourth quarter worth $445,000. Finally, Tidal Investments LLC bought a new stake in shares of Radware during the first quarter worth $494,000. 73.12% of the stock is currently owned by institutional investors.

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.