Zacks Investment Research upgraded shares of Radware (NASDAQ:RDWR) from a hold rating to a buy rating in a report released on Thursday morning. Zacks Investment Research currently has $22.00 target price on the information technology services provider’s stock.

According to Zacks, “Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. (PRESS RELEASE) “

A number of other research analysts have also recently issued reports on RDWR. Needham & Company LLC reiterated a buy rating and set a $21.00 price objective on shares of Radware in a report on Tuesday, September 12th. Jefferies Group reiterated a buy rating on shares of Radware in a report on Friday, October 6th. Barclays boosted their price target on shares of Radware from $19.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, November 2nd. Dougherty & Co boosted their price target on shares of Radware from $18.50 to $22.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Finally, BidaskClub cut shares of Radware from a hold rating to a sell rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Radware has a consensus rating of Buy and an average price target of $21.00.

Shares of Radware (NASDAQ RDWR) traded up $0.30 during midday trading on Thursday, hitting $20.17. 183,608 shares of the stock were exchanged, compared to its average volume of 156,600. The firm has a market capitalization of $863.94, a PE ratio of -77.57, a P/E/G ratio of 49.49 and a beta of 1.06. Radware has a 52-week low of $14.12 and a 52-week high of $20.78.

A number of institutional investors have recently added to or reduced their stakes in the stock. AXA boosted its holdings in Radware by 8.8% during the third quarter. AXA now owns 321,000 shares of the information technology services provider’s stock worth $5,412,000 after purchasing an additional 26,000 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Radware during the third quarter worth about $234,000. Cubist Systematic Strategies LLC purchased a new position in Radware during the third quarter worth about $305,000. Granahan Investment Management Inc. MA boosted its holdings in Radware by 4.2% during the third quarter. Granahan Investment Management Inc. MA now owns 128,028 shares of the information technology services provider’s stock worth $2,159,000 after purchasing an additional 5,116 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Radware during the third quarter worth about $507,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

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About Radware

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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