Radware Ltd. (NASDAQ:RDWR)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a report issued on Thursday, August 3rd. They currently have a $22.00 price target on the information technology services provider’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 26.87% from the stock’s current price.
Several other analysts also recently issued reports on the stock. Dougherty & Co raised shares of Radware from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.50 to $18.50 in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of Radware from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research note on Wednesday, April 26th. Needham & Company LLC boosted their target price on shares of Radware from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Oppenheimer Holdings, Inc. set a $17.00 target price on shares of Radware and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, BidaskClub downgraded shares of Radware from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.44.
Radware (NASDAQ RDWR) traded up 0.64% during trading on Thursday, reaching $17.34. The company’s stock had a trading volume of 141,151 shares. Radware has a 52 week low of $11.46 and a 52 week high of $18.33. The firm has a 50-day moving average price of $17.68 and a 200-day moving average price of $16.65. The firm’s market capitalization is $759.86 million.
Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, August 2nd. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. Radware had a negative net margin of 6.41% and a negative return on equity of 2.14%. The company had revenue of $50.96 million for the quarter, compared to the consensus estimate of $50.19 million. During the same period in the previous year, the business earned $0.06 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Radware will post $0.14 EPS for the current fiscal year.
Radware declared that its board has authorized a share buyback program on Tuesday, April 25th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase 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.
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Several institutional investors have recently bought and sold shares of the company. Hood River Capital Management LLC bought a new position in Radware during the first quarter worth $6,951,000. HighVista Strategies LLC bought a new position in Radware during the first quarter worth $3,660,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Radware during the first quarter worth $3,162,000. Renaissance Technologies LLC increased its position in Radware by 66.2% in the first quarter. Renaissance Technologies LLC now owns 480,897 shares of the information technology services provider’s stock worth $7,771,000 after buying an additional 191,597 shares during the period. Finally, Wellington Management Group LLP increased its position in 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 worth $5,365,000 after buying an additional 188,139 shares during the period. 63.59% of the stock is currently owned by institutional investors and hedge funds.
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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