Radware (NASDAQ:RDWR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Radware (NASDAQ:RDWR) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently weighed in on the company. Jefferies Financial Group set a $25.00 target price on Radware in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Radware has a consensus rating of “Hold” and an average target price of $30.00.

Radware Price Performance

RDWR opened at $27.20 on Friday. The firm has a market capitalization of $1.17 billion, a P/E ratio of 60.45 and a beta of 0.87. The stock has a fifty day moving average of $25.26 and a 200-day moving average of $24.85. Radware has a 12-month low of $18.46 and a 12-month high of $31.57.

Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, February 11th. The information technology services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.Radware’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts expect that Radware will post 0.28 earnings per share for the current fiscal year.

Radware announced that its board has initiated a share repurchase plan on Friday, February 13th that permits the company to buyback $80.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RDWR. Pacer Advisors Inc. lifted its holdings in shares of Radware by 80.7% during the 4th quarter. Pacer Advisors Inc. now owns 4,230 shares of the information technology services provider’s stock valued at $102,000 after buying an additional 1,889 shares during the last quarter. XTX Topco Ltd acquired a new position in Radware in the fourth quarter worth approximately $766,000. Lazard Asset Management LLC increased its holdings in Radware by 89.0% in the fourth quarter. Lazard Asset Management LLC now owns 83,556 shares of the information technology services provider’s stock worth $2,013,000 after buying an additional 39,338 shares during the last quarter. Defiance ETFs LLC bought a new position in Radware during the fourth quarter valued at approximately $9,152,000. Finally, Amundi bought a new position in Radware during the fourth quarter valued at approximately $378,000. 73.12% of the stock is owned by institutional investors and hedge funds.

About Radware

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.