Radware (NASDAQ:RDWR) Cut 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 report issued on Friday morning, 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) “

Other research analysts have also recently issued research reports about the company. TheStreet raised Exantas Capital from a d+ rating to a c rating in a research note on Thursday, May 2nd. BidaskClub cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, July 11th. Finally, ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $29.50.

Shares of NASDAQ RDWR opened at $24.68 on Friday. The business has a 50 day simple moving average of $24.42. Radware has a fifty-two week low of $21.43 and a fifty-two week high of $28.50. The stock has a market capitalization of $1.10 billion, a P/E ratio of 85.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.90.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Radware had a return on equity of 5.54% and a net margin of 7.09%. The company had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $59.43 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Radware’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts expect that Radware will post 0.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in RDWR. Rice Hall James & Associates LLC bought a new stake in Radware during the 1st quarter valued at $13,039,000. Ibex Investors LLC bought a new stake in Radware during the 1st quarter valued at $12,292,000. Monarch Partners Asset Management LLC bought a new stake in Radware during the 1st quarter valued at $6,511,000. Artisan Partners Limited Partnership bought a new stake in Radware during the 1st quarter valued at $6,454,000. Finally, BlackRock Inc. boosted its position in Radware by 64.6% during the 4th quarter. BlackRock Inc. now owns 604,039 shares of the information technology services provider’s stock valued at $13,717,000 after acquiring an additional 236,975 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors and hedge funds.

About Radware

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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