Radware (NASDAQ:RDWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $28.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.54% from the company’s previous close.
According to Zacks, “Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. (PRESS RELEASE) “
RDWR has been the subject of several other research reports. TheStreet lowered Radware from a “b” rating to a “c+” rating in a research report on Thursday, May 2nd. ValuEngine lowered Radware from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, BidaskClub lowered Radware from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.00.
Shares of NASDAQ:RDWR opened at $24.88 on Tuesday. Radware has a 52-week low of $21.43 and a 52-week high of $28.50. The company has a market capitalization of $1.10 billion, a PE ratio of 85.79, a PEG ratio of 4.13 and a beta of 0.84.
Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Radware had a return on equity of 5.54% and a net margin of 7.09%. The firm had revenue of $61.40 million during the quarter, compared to analyst estimates of $59.43 million. During the same quarter in the prior year, the company earned $0.06 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts expect that Radware will post 0.34 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of RDWR. Cypress Capital Management LLC WY purchased a new stake in shares of Radware in the 1st quarter worth approximately $52,000. Dupont Capital Management Corp purchased a new stake in shares of Radware in the 1st quarter worth approximately $105,000. Penserra Capital Management LLC purchased a new stake in shares of Radware in the 1st quarter worth approximately $107,000. Paloma Partners Management Co purchased a new stake in shares of Radware in the 4th quarter worth approximately $202,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Radware in the 1st quarter worth approximately $295,000. Institutional investors own 69.32% of the company’s stock.
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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