Radware (RDWR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. (PRESS RELEASE) “

RDWR has been the subject of a number of other research reports. BidaskClub raised Radware from a sell rating to a hold rating in a research note on Saturday, September 29th. Barclays restated a buy rating and set a $30.00 price target on shares of Radware in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Radware has a consensus rating of Buy and an average target price of $28.80.

Shares of NASDAQ RDWR traded down $0.53 during midday trading on Tuesday, reaching $24.60. The company had a trading volume of 326,732 shares, compared to its average volume of 196,388. Radware has a one year low of $18.00 and a one year high of $28.50. The firm has a market cap of $1.09 billion, a PE ratio of -205.00, a price-to-earnings-growth ratio of 8.87 and a beta of 1.09.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, November 7th. The information technology services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Radware had a return on equity of 1.85% and a net margin of 2.58%. The company had revenue of $58.80 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the company posted $0.04 EPS. Radware’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Radware will post 0.15 earnings per share for the current year.

A number of large investors have recently made changes to their positions in RDWR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Radware by 80.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the information technology services provider’s stock valued at $168,000 after purchasing an additional 2,959 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Radware during the 2nd quarter valued at about $230,000. Campbell & CO Investment Adviser LLC purchased a new position in Radware during the 3rd quarter valued at about $292,000. State of New Jersey Common Pension Fund D purchased a new position in Radware during the 2nd quarter valued at about $385,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Radware by 55.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,744 shares of the information technology services provider’s stock valued at $423,000 after purchasing an additional 5,966 shares during the period. Institutional investors own 63.23% of the company’s stock.

About Radware

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in virtual, cloud, and software defined data centers worldwide. The company offers application and network security solutions, such as DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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