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

StockNews.com upgraded shares of Radware (NASDAQ:RDWR) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a hold rating on shares of Radware in a report on Wednesday, July 31st. Barclays upped their price target on Radware from $22.00 to $23.00 and gave the company an overweight rating in a report on Thursday, August 1st.

Radware Stock Performance

Shares of RDWR opened at $22.09 on Wednesday. The stock’s fifty day moving average is $19.57 and its 200-day moving average is $18.87. The firm has a market capitalization of $978.81 million, a price-to-earnings ratio of -48.02 and a beta of 0.98. Radware has a one year low of $13.53 and a one year high of $23.05.

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

Institutional Trading of Radware

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of Radware by 239.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 4,539 shares during the period. Point72 Asset Management L.P. acquired a new position in Radware in the 2nd quarter worth about $120,000. Van ECK Associates Corp raised its stake in shares of Radware by 16.4% during the 2nd quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock worth $167,000 after purchasing an additional 1,291 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Radware during the 2nd quarter valued at about $169,000. Finally, MQS Management LLC bought a new stake in shares of Radware in the 2nd quarter valued at approximately $234,000. 73.12% of the stock is 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.