Radware (NASDAQ:RDWR) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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) “

Separately, BidaskClub lowered Radware from a sell rating to a strong sell rating in a report on Saturday, September 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $29.67.

RDWR stock traded down $0.09 during midday trading on Wednesday, reaching $23.65. The stock had a trading volume of 92,499 shares, compared to its average volume of 182,148. The company’s fifty day simple moving average is $24.71 and its 200 day simple moving average is $25.01. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 81.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.92. Radware has a 52-week low of $21.43 and a 52-week high of $26.98.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Radware had a net margin of 7.84% and a return on equity of 6.35%. The firm had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $60.04 million. During the same quarter in the previous year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Radware will post 0.5 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of RDWR. Ibex Investors LLC raised its holdings in shares of Radware by 42.4% during the 2nd quarter. Ibex Investors LLC now owns 670,000 shares of the information technology services provider’s stock worth $16,569,000 after acquiring an additional 199,600 shares during the period. BlackRock Inc. raised its holdings in shares of Radware by 24.7% during the 2nd quarter. BlackRock Inc. now owns 695,912 shares of the information technology services provider’s stock worth $17,209,000 after acquiring an additional 137,800 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Radware by 33.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 365,110 shares of the information technology services provider’s stock worth $9,029,000 after acquiring an additional 90,624 shares during the period. Rice Hall James & Associates LLC raised its holdings in shares of Radware by 16.7% during the 2nd quarter. Rice Hall James & Associates LLC now owns 582,557 shares of the information technology services provider’s stock worth $14,407,000 after acquiring an additional 83,551 shares during the period. Finally, Sphera Funds Management LTD. purchased a new position in shares of Radware during the 1st quarter worth $2,150,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Radware Company Profile

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers 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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