Needham & Company LLC Upgrades Radware (NASDAQ:RDWR) to Hold

Needham & Company LLC upgraded shares of Radware (NASDAQ:RDWR) to a hold rating in a research note published on Friday morning, Zacks.com reports.

A number of other research firms have also weighed in on RDWR. Barclays upped their target price on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st.

Radware Price Performance

RDWR opened at $21.63 on Friday. The business has a fifty day moving average price of $22.00 and a 200 day moving average price of $20.19. Radware has a 12 month low of $14.67 and a 12 month high of $24.34. The stock has a market capitalization of $908.24 million, a price-to-earnings ratio of -360.44 and a beta of 0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Radware by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock valued at $31,917,000 after purchasing an additional 193,689 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Radware by 7.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock worth $31,577,000 after buying an additional 115,089 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Radware by 6.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock valued at $20,757,000 after buying an additional 56,116 shares in the last quarter. Millennium Management LLC grew its position in shares of Radware by 2,346.9% in the 2nd quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock valued at $6,944,000 after buying an additional 365,131 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Radware during the 2nd quarter worth $4,453,000. Hedge funds and other 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.