Radware (NASDAQ:RDWR) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Radware (NASDAQ:RDWR) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

Separately, Needham & Company LLC reaffirmed a hold rating on shares of Radware in a research report on Friday, May 17th.

Radware Price Performance

Radware stock opened at $18.80 on Monday. The firm’s 50 day simple moving average is $18.84 and its 200-day simple moving average is $18.16. The company has a market cap of $833.03 million, a P/E ratio of -40.87 and a beta of 0.98. Radware has a fifty-two week low of $13.53 and a fifty-two week high of $20.94.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $63.57 million. Radware had a negative net margin of 7.67% and a negative return on equity of 2.62%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. On average, analysts expect that Radware will post 0.08 EPS for the current fiscal year.

Institutional Trading of Radware

Institutional investors have recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Radware by 90.4% during the 4th quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock worth $40,815,000 after purchasing an additional 1,161,535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Radware by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,654,735 shares of the information technology services provider’s stock valued at $27,601,000 after buying an additional 308,396 shares in the last quarter. Trexquant Investment LP bought a new position in Radware during the fourth quarter valued at approximately $445,000. Tidal Investments LLC acquired a new stake in Radware in the first quarter valued at approximately $494,000. Finally, BNP Paribas Financial Markets grew its position in Radware by 239.5% in the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock worth $120,000 after acquiring an additional 4,539 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.

About Radware

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.