Radware’s (RDWR) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Radware (NASDAQ:RDWR) in a report released on Thursday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Radware from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

Radware Trading Up 5.6%

Shares of NASDAQ:RDWR opened at $28.36 on Thursday. The firm’s 50 day moving average is $25.67 and its two-hundred day moving average is $24.77. Radware has a 52 week low of $21.42 and a 52 week high of $31.57. The firm has a market capitalization of $1.19 billion, a P/E ratio of 63.02 and a beta of 0.81.

Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Tuesday, March 31st. The information technology services provider reported $0.30 EPS for the quarter. Radware had a net margin of 6.71% and a return on equity of 7.21%. The company had revenue of $79.81 million for the quarter.

Radware declared that its board has initiated a stock repurchase plan on Friday, February 13th that authorizes the company to repurchase $80.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Artisan Partners Limited Partnership boosted its holdings in shares of Radware by 16.0% in the third quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock valued at $82,920,000 after acquiring an additional 431,572 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Radware during the fourth quarter worth approximately $503,000. New York State Common Retirement Fund boosted its holdings in Radware by 27.2% during the third quarter. New York State Common Retirement Fund now owns 274,362 shares of the information technology services provider’s stock worth $7,268,000 after buying an additional 58,730 shares in the last quarter. Semanteon Capital Management LP bought a new stake in Radware during the third quarter worth approximately $562,000. Finally, Robertson Stephens Wealth Management LLC bought a new stake in Radware during the fourth quarter worth approximately $709,000. 73.12% of the stock is currently owned by institutional investors.

Radware Company Profile

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.