Radware (NASDAQ:RDWR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Radware (NASDAQ:RDWR) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other analysts also recently issued reports on RDWR. Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Jefferies Financial Group set a $25.00 price objective on Radware in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

Radware Trading Up 1.5%

Shares of NASDAQ:RDWR opened at $27.60 on Friday. The business has a 50-day moving average price of $25.31 and a 200 day moving average price of $24.85. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 61.33 and a beta of 0.87. Radware has a 12-month low of $18.46 and a 12-month high of $31.57.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, February 11th. The information technology services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. As a group, equities research analysts predict that Radware will post 0.28 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Radware

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Radware by 3,178.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,176 shares during the period. Simplex Trading LLC boosted its holdings in Radware by 51.4% during the 4th quarter. Simplex Trading LLC now owns 1,544 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 524 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Radware by 47.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 550 shares during the period. Global Retirement Partners LLC purchased a new position in Radware during the 4th quarter valued at about $49,000. Finally, Pacer Advisors Inc. boosted its holdings in Radware by 200.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider’s stock valued at $62,000 after acquiring an additional 1,563 shares during the period. 73.12% of the stock is currently owned by hedge funds and other 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.