StockNews.com Downgrades Radware (NASDAQ:RDWR) to Buy

Radware (NASDAQ:RDWR) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

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

Radware Stock Performance

Shares of NASDAQ RDWR traded up $0.50 during trading on Thursday, hitting $18.48. The company had a trading volume of 127,407 shares, compared to its average volume of 322,412. Radware has a 52 week low of $13.53 and a 52 week high of $20.94. The business’s 50-day moving average is $18.73 and its 200 day moving average is $18.29. The company has a market cap of $818.85 million, a P/E ratio of -40.17 and a beta of 0.98.

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

Institutional Trading of Radware

A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in Radware by 90.4% during the fourth quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock valued at $40,815,000 after buying an additional 1,161,535 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 308,396 shares during the period. Trexquant Investment LP purchased a new stake in shares of Radware in the fourth quarter worth approximately $445,000. Tidal Investments LLC purchased a new stake in shares of Radware in the first quarter worth approximately $494,000. Finally, 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 period. Hedge funds and other institutional investors 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.