Radware (NASDAQ:RDWR) Downgraded to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research note published on Thursday, BenzingaRatingsTable reports.

A number of other research firms have also recently issued reports on RDWR. TheStreet upgraded Radware from a c+ rating to a b- rating in a research report on Thursday, December 5th. Zacks Investment Research upgraded Radware from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Saturday, November 9th. BidaskClub upgraded Radware from a sell rating to a hold rating in a research report on Tuesday, December 31st. Finally, ValuEngine cut Radware from a buy rating to a hold rating in a research report on Saturday, January 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $26.00.

Shares of RDWR traded up $0.71 on Thursday, reaching $22.97. 293,530 shares of the stock traded hands, compared to its average volume of 160,888. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 47.86, a P/E/G ratio of 2.16 and a beta of 0.87. Radware has a 12 month low of $22.00 and a 12 month high of $26.98. The stock’s 50-day moving average price is $25.72 and its 200-day moving average price is $24.62.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Wednesday, February 12th. The information technology services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $67.36 million for the quarter, compared to the consensus estimate of $67.40 million. Radware had a net margin of 9.33% and a return on equity of 7.41%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts anticipate that Radware will post 0.59 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Monarch Partners Asset Management LLC boosted its stake in Radware by 4.8% in the third quarter. Monarch Partners Asset Management LLC now owns 267,405 shares of the information technology services provider’s stock worth $6,487,000 after purchasing an additional 12,195 shares in the last quarter. Man Group plc boosted its stake in Radware by 1.2% in the third quarter. Man Group plc now owns 96,143 shares of the information technology services provider’s stock worth $2,332,000 after purchasing an additional 1,110 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Radware in the third quarter worth $119,000. State Street Corp boosted its stake in Radware by 8.5% in the third quarter. State Street Corp now owns 280,086 shares of the information technology services provider’s stock worth $6,795,000 after purchasing an additional 21,874 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in Radware by 19.4% in the third quarter. State of Tennessee Treasury Department now owns 68,938 shares of the information technology services provider’s stock worth $1,672,000 after purchasing an additional 11,217 shares in the last quarter. 71.25% of the stock is currently owned by institutional investors and hedge funds.

Radware Company Profile

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.

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