Radware (NASDAQ:RDWR) Shares Gap Up to $18.50

Radware Ltd. (NASDAQ:RDWR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $18.50, but opened at $19.96. Radware shares last traded at $19.55, with a volume of 6,153 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RDWR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a research note on Wednesday. StockNews.com cut Radware from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Finally, Barclays lifted their price objective on Radware from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday.

Radware Price Performance

The stock has a 50-day moving average price of $18.68 and a 200 day moving average price of $18.41. The firm has a market cap of $986.27 million, a PE ratio of -47.83 and a beta of 0.98.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $63.57 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Radware Ltd. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Radware

Several institutional investors have recently made changes to their positions in RDWR. First Trust Advisors LP grew its holdings in Radware by 90.4% in 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 buying an additional 1,161,535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $27,601,000 after buying an additional 308,396 shares in the last quarter. ARK Investment Management LLC grew its holdings in Radware by 7.0% in the 2nd quarter. ARK Investment Management LLC now owns 133,559 shares of the information technology services provider’s stock worth $2,436,000 after buying an additional 8,715 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Radware by 67.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock worth $1,777,000 after buying an additional 39,117 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Radware by 9.7% in the 1st quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider’s stock worth $762,000 after buying an additional 3,599 shares in the last quarter. 73.12% of the stock is owned by institutional investors.

Radware Company Profile

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.