Needham & Company LLC Reiterates Hold Rating for Radware (NASDAQ:RDWR)

Radware (NASDAQ:RDWR)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

Separately, Barclays upped their price target on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st.

Radware Stock Performance

RDWR stock opened at $24.05 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -400.77 and a beta of 0.96. Radware has a one year low of $16.12 and a one year high of $25.00. The company has a 50 day moving average price of $22.51 and a two-hundred day moving average price of $22.38.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, February 12th. The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.12). Radware had a negative net margin of 0.85% and a positive return on equity of 1.41%. Research analysts forecast that Radware will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Radware

A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Radware by 14.8% in the 4th quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider’s stock worth $50,370,000 after buying an additional 287,913 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Radware by 264.3% in the 4th quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider’s stock valued at $21,556,000 after purchasing an additional 694,112 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Radware by 6.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock valued at $20,757,000 after purchasing an additional 56,116 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Radware by 2.4% in the 4th quarter. First Trust Advisors LP now owns 882,255 shares of the information technology services provider’s stock valued at $19,877,000 after purchasing an additional 20,658 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Radware by 23.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 727,705 shares of the information technology services provider’s stock valued at $16,395,000 after purchasing an additional 140,135 shares in the last quarter. 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.