Radware (NASDAQ: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 report published on Saturday morning, Zacks.com reports. They currently have $26.00 target price 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) “

Separately, BidaskClub downgraded shares of Radware from a sell rating to a strong sell rating in a report on Saturday, September 7th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $28.00.

RDWR stock traded down $0.16 during midday trading on Friday, hitting $23.37. The company’s stock had a trading volume of 156,500 shares, compared to its average volume of 175,631. The stock has a market capitalization of $1.06 billion, a P/E ratio of 80.59, a PEG ratio of 2.53 and a beta of 0.89. The company’s fifty day moving average price is $23.44 and its 200 day moving average price is $24.49. Radware has a twelve month low of $21.43 and a twelve month high of $26.98.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, November 6th. The information technology services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.12 by $0.13. The business had revenue of $62.86 million during the quarter, compared to the consensus estimate of $62.84 million. Radware had a net margin of 7.84% and a return on equity of 6.35%. Radware’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. As a group, equities research analysts forecast that Radware will post 0.5 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wakefield Asset Management LLLP boosted its holdings in Radware by 2.1% in the 3rd quarter. Wakefield Asset Management LLLP now owns 22,058 shares of the information technology services provider’s stock valued at $535,000 after purchasing an additional 445 shares during the period. Optimum Investment Advisors bought a new stake in Radware in the 3rd quarter valued at about $32,000. Quantamental Technologies LLC boosted its holdings in Radware by 324.2% in the 2nd quarter. Quantamental Technologies LLC now owns 2,346 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 1,793 shares during the period. Russell Investments Group Ltd. boosted its holdings in Radware by 7.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 26,910 shares of the information technology services provider’s stock valued at $656,000 after purchasing an additional 1,961 shares during the period. Finally, Dupont Capital Management Corp boosted its holdings in Radware by 50.0% in the 2nd quarter. Dupont Capital Management Corp now owns 6,000 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 2,000 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: What is the formula for the cash asset ratio?

Get a free copy of the Zacks research report on Radware (RDWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Radware Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radware and related companies with MarketBeat.com's FREE daily email newsletter.