Radware (RDWR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Radware (NASDAQ:RDWR) from a hold rating to a buy rating in a research note published on Thursday morning. The brokerage currently has $22.00 price objective on the information technology services provider’s stock.

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) “

A number of other analysts also recently issued reports on RDWR. BidaskClub downgraded shares of Radware from a sell rating to a strong sell rating in a report on Wednesday. Dougherty & Co increased their price target on shares of Radware from $18.50 to $22.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Needham & Company LLC reissued a buy rating and set a $21.00 price target on shares of Radware in a report on Tuesday, September 12th. Jefferies Group reissued a buy rating on shares of Radware in a report on Friday, October 6th. Finally, Barclays increased their price target on shares of Radware from $19.00 to $22.00 and gave the stock an overweight rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Radware presently has a consensus rating of Buy and an average target price of $21.00.

Shares of Radware (NASDAQ RDWR) traded up $0.26 during midday trading on Thursday, reaching $19.97. 154,600 shares of the company were exchanged, compared to its average volume of 181,533. Radware has a 12-month low of $14.12 and a 12-month high of $20.78. The stock has a market capitalization of $885.16, a P/E ratio of -73.96, a PEG ratio of 49.09 and a beta of 1.06.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AXA raised its position in Radware by 8.8% during the third quarter. AXA now owns 321,000 shares of the information technology services provider’s stock worth $5,412,000 after acquiring an additional 26,000 shares during the period. GSA Capital Partners LLP acquired a new position in Radware during the third quarter worth $234,000. Cubist Systematic Strategies LLC acquired a new position in Radware during the third quarter worth $305,000. Granahan Investment Management Inc. MA raised its position in Radware by 4.2% during the third quarter. Granahan Investment Management Inc. MA now owns 128,028 shares of the information technology services provider’s stock worth $2,159,000 after acquiring an additional 5,116 shares during the period. Finally, Jane Street Group LLC acquired a new position in Radware during the third quarter worth $507,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

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Radware Company Profile

Radware Ltd. is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF) and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications.

Analyst Recommendations for Radware (NASDAQ:RDWR)

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