Radware Ltd. (RDWR) Downgraded by BidaskClub
BidaskClub cut shares of Radware Ltd. (NASDAQ:RDWR) from a buy rating to a hold rating in a research report report published on Tuesday morning.
Several other brokerages also recently commented on RDWR. Oppenheimer Holdings, Inc. set a $17.00 price objective on Radware and gave the company a buy rating in a research report on Tuesday, April 25th. Zacks Investment Research upgraded Radware from a sell rating to a hold rating and set a $19.00 price objective on the stock in a research report on Wednesday, April 26th. Dougherty & Co upgraded Radware from a neutral rating to a buy rating and boosted their price objective for the company from $16.50 to $18.50 in a research report on Tuesday, April 25th. Needham & Company LLC boosted their price objective on Radware from $18.00 to $19.00 and gave the company a buy rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC boosted their price objective on Radware from $18.50 to $20.00 and gave the company a buy rating in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Radware currently has a consensus rating of Buy and an average target price of $17.81.
Shares of Radware (NASDAQ:RDWR) traded down 0.40% during trading on Tuesday, reaching $17.63. The company’s stock had a trading volume of 72,279 shares. The company’s market cap is $762.06 million. Radware has a 12-month low of $11.46 and a 12-month high of $18.33. The company has a 50 day moving average of $17.79 and a 200 day moving average of $16.46.
Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Tuesday, April 25th. The information technology services provider reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Radware had a negative return on equity of 1.41% and a negative net margin of 5.07%. The business had revenue of $48.90 million for the quarter, compared to the consensus estimate of $47.87 million. During the same period in the previous year, the business earned $0.05 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Radware will post $0.16 EPS for the current fiscal year.
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Radware announced that its Board of Directors has initiated a stock buyback program 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 programs are typically a sign that the company’s management believes its stock is undervalued.
Several large investors have recently modified their holdings of the company. Oxford Asset Management purchased a new stake in shares of Radware during the first quarter valued at about $270,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Radware during the first quarter valued at about $3,162,000. Trexquant Investment LP purchased a new stake in shares of Radware during the first quarter valued at about $514,000. Penserra Capital Management LLC boosted its stake in shares of Radware by 4.8% in the first quarter. Penserra Capital Management LLC now owns 1,777,524 shares of the information technology services provider’s stock valued at $28,724,000 after buying an additional 81,863 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock valued at $5,365,000 after buying an additional 188,139 shares during the period. 63.43% of the stock is currently owned by hedge funds and other institutional investors.
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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