Radware (NASDAQ:RDWR) Price Target Raised to $23.00

Radware (NASDAQ:RDWR) had its price target boosted by Barclays from $22.00 to $23.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

RDWR has been the subject of a number of other reports. StockNews.com cut Radware from a strong-buy rating to a buy rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a hold rating on shares of Radware in a research note on Wednesday, July 31st.

Radware Stock Down 3.2 %

Shares of Radware stock traded down $0.71 during trading on Thursday, reaching $21.55. 20,313 shares of the company were exchanged, compared to its average volume of 331,054. Radware has a twelve month low of $13.53 and a twelve month high of $23.05. The business has a 50-day moving average price of $18.72 and a 200-day moving average price of $18.48. The firm has a market capitalization of $954.88 million, a price-to-earnings ratio of -48.39 and a beta of 0.98.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The business had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Radware will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in Radware by 16.4% during the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock worth $167,000 after acquiring an additional 1,291 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Radware by 67.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock worth $1,777,000 after acquiring an additional 39,117 shares in the last quarter. ARK Investment Management LLC raised its holdings in Radware by 7.0% during the second quarter. ARK Investment Management LLC now owns 133,559 shares of the information technology services provider’s stock worth $2,436,000 after acquiring an additional 8,715 shares in the last quarter. Tidal Investments LLC bought a new stake in Radware during the first quarter worth about $494,000. Finally, California State Teachers Retirement System raised its holdings in Radware by 9.7% during the first quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider’s stock worth $762,000 after acquiring an additional 3,599 shares in the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.

Radware Company Profile

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.