Radware (NASDAQ:RDWR) Price Target Increased to $23.00 by Analysts at Barclays

Radware (NASDAQ:RDWR) had its target price upped by equities researchers at Barclays from $22.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price objective indicates a potential upside of 2.91% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Radware from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Radware in a research note on Wednesday.

Radware Price Performance

RDWR traded down $0.31 during mid-day trading on Thursday, hitting $22.35. The stock had a trading volume of 74,605 shares, compared to its average volume of 318,926. The stock’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $18.39. The firm has a market capitalization of $990.33 million, a price-to-earnings ratio of -48.59 and a beta of 0.98. Radware has a 1-year low of $13.53 and a 1-year high of $22.96.

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 net margin of 7.67% and a negative return on equity of 2.62%. The business had revenue of $65.10 million for the quarter, compared to analyst estimates of $63.57 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, research analysts expect that Radware will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Radware

Several hedge funds and other institutional investors have recently modified their holdings of RDWR. First Trust Advisors LP raised its stake 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 purchasing an additional 1,161,535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 purchasing an additional 308,396 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake 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 purchasing an additional 39,117 shares in the last quarter. Trexquant Investment LP acquired a new stake in Radware in the 4th quarter worth about $445,000. Finally, Tidal Investments LLC acquired a new stake in Radware in the 1st quarter worth about $494,000. Institutional investors own 73.12% of the company’s stock.

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.