Needham & Company LLC Initiates Coverage on Radware (NASDAQ:RDWR)

Needham & Company LLC initiated coverage on shares of Radware (NASDAQ:RDWR) in a research note published on Wednesday morning, TipRanks reports. The firm issued a hold rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Radware from a buy rating to a hold rating in a research note on Friday, May 1st. Oppenheimer reiterated a buy rating and issued a $27.00 price target on shares of Radware in a research note on Wednesday, May 6th. Barclays decreased their price target on shares of Radware from $27.00 to $26.00 and set an overweight rating for the company in a research note on Thursday, May 7th. Berenberg Bank lowered shares of Radware from a buy rating to a hold rating in a research note on Wednesday, April 1st. Finally, Zacks Investment Research raised shares of Radware from a sell rating to a hold rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Radware currently has an average rating of Hold and an average price target of $26.33.

Shares of NASDAQ RDWR opened at $25.55 on Wednesday. Radware has a 12 month low of $16.02 and a 12 month high of $26.99. The firm has a market capitalization of $1.20 billion, a PE ratio of 70.97, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. The firm has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $23.42.

Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $57.99 million. Radware had a net margin of 7.12% and a return on equity of 5.88%. Radware’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Research analysts expect that Radware will post 0.41 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Radware during the 1st quarter valued at about $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Radware by 16.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,788 shares of the information technology services provider’s stock valued at $143,000 after acquiring an additional 934 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Radware during the 4th quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Radware by 33.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,032 shares of the information technology services provider’s stock valued at $213,000 after acquiring an additional 2,244 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Radware in the fourth quarter worth approximately $242,000. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Price to Earnings Ratio (PE)

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