StockNews.com Downgrades Radware (NASDAQ:RDWR) to Buy

StockNews.com cut shares of Radware (NASDAQ:RDWR) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

Separately, Needham & Company LLC reaffirmed a hold rating on shares of Radware in a research report on Friday, May 17th.

Radware Price Performance

Radware stock opened at $18.80 on Monday. Radware has a 12 month low of $13.53 and a 12 month high of $20.94. The company has a market cap of $833.03 million, a price-to-earnings ratio of -40.87 and a beta of 0.98. The stock’s 50-day moving average is $18.84 and its 200-day moving average is $18.16.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $65.10 million during the quarter, compared to analyst estimates of $63.57 million. Radware had a negative net margin of 7.67% and a negative return on equity of 2.62%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Research analysts anticipate that Radware will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Radware

Large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position 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 valued at $40,815,000 after buying an additional 1,161,535 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Radware by 22.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,654,735 shares of the information technology services provider’s stock valued at $27,601,000 after purchasing an additional 308,396 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Radware by 9.7% in the first quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider’s stock valued at $762,000 after purchasing an additional 3,599 shares during the last quarter. Trexquant Investment LP acquired a new stake in Radware during the 4th quarter valued at approximately $445,000. Finally, Tidal Investments LLC purchased a new stake in Radware during the 1st quarter worth approximately $494,000. 73.12% of the stock is owned by institutional investors and hedge funds.

About Radware

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.