Radware (NASDAQ:RDWR) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Radware (NASDAQ:RDWR) from a strong-buy rating to a buy rating in a research note released on Thursday.

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

Radware Stock Performance

Shares of Radware stock opened at $18.48 on Thursday. The business has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $18.29. Radware has a one year low of $13.53 and a one year high of $20.94. The company has a market cap of $818.85 million, a PE ratio of -40.17 and a beta of 0.98.

Radware (NASDAQ:RDWR) last posted its quarterly earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 EPS for the quarter, topping the consensus estimate 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 company had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The firm’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts predict that Radware will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Radware

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in Radware during the 1st quarter worth $494,000. California State Teachers Retirement System increased its position in shares of Radware by 9.7% during the first quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 3,599 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Radware by 239.5% during the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 4,539 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of 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 purchasing an additional 1,161,535 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Radware in the 4th quarter valued at about $445,000. Institutional investors and hedge funds own 73.12% of the company’s stock.

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.