Radware (NASDAQ:RDWR) Rating Increased to Strong-Buy at StockNews.com

Radware (NASDAQ:RDWR) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

A number of other equities research analysts have also weighed in on RDWR. Barclays boosted their target price on shares of Radware from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Radware in a research note on Wednesday, July 31st.

Radware Trading Down 2.1 %

Shares of RDWR opened at $21.98 on Wednesday. The firm has a market cap of $973.93 million, a PE ratio of -47.78 and a beta of 0.98. The firm has a fifty day simple moving average of $19.47 and a two-hundred day simple moving average of $18.84. Radware has a 1-year low of $13.53 and a 1-year high of $23.05.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $0.08 earnings per share for the quarter. The business had revenue of $67.28 million during the quarter, compared to analyst estimates of $66.10 million. Radware had a negative net margin of 4.73% and a negative return on equity of 0.72%. As a group, research analysts forecast that Radware will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Radware

Several hedge funds and other institutional investors have recently modified their holdings of RDWR. First Trust Advisors LP increased its stake in shares of Radware by 90.4% in the 4th 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 in the last quarter. Millennium Management LLC boosted its holdings in Radware by 2,346.9% in the 2nd quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock worth $6,944,000 after buying an additional 365,131 shares during the period. Cubist Systematic Strategies LLC bought a new position in Radware in the 2nd quarter worth $4,453,000. Renaissance Technologies LLC boosted its holdings in Radware by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock worth $31,917,000 after buying an additional 193,689 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Radware by 7.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock worth $31,577,000 after buying an additional 115,089 shares during the period. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

About Radware

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.