StockNews.com Upgrades Radware (NASDAQ:RDWR) to Strong-Buy

Radware (NASDAQ:RDWR) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other analysts also recently commented on the company. Barclays upped their price objective on Radware from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Radware in a research note on Wednesday, July 31st.

Radware Stock Performance

Shares of NASDAQ:RDWR traded down $0.62 on Monday, hitting $21.64. 219,820 shares of the company’s stock were exchanged, compared to its average volume of 332,393. The firm’s 50-day moving average is $18.72 and its 200 day moving average is $18.48. The company has a market capitalization of $958.87 million, a PE ratio of -47.04 and a beta of 0.98. Radware has a 1-year low of $13.53 and a 1-year high of $23.05.

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

Hedge Funds Weigh In On Radware

A number of large investors have recently modified their holdings of RDWR. Van ECK Associates Corp grew its holdings in Radware by 16.4% during the 2nd quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock valued at $167,000 after buying an additional 1,291 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Radware by 14.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 14,139 shares of the information technology services provider’s stock worth $236,000 after purchasing an additional 1,774 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of 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 purchasing an additional 3,599 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Radware by 239.5% during the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 4,539 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 8,715 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.

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.