Wall Street Zen Downgrades Radware (NASDAQ:RDWR) to Hold

Radware (NASDAQ:RDWR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts also recently commented on RDWR. Jefferies Financial Group set a $25.00 target price on Radware in a report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Radware in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Radware Stock Down 1.3%

Shares of Radware stock opened at $23.78 on Friday. Radware has a 12-month low of $18.46 and a 12-month high of $31.57. The stock has a market capitalization of $1.02 billion, a P/E ratio of 62.58 and a beta of 0.94. The company has a 50-day simple moving average of $23.71 and a 200 day simple moving average of $25.70.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Radware by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,718,260 shares of the information technology services provider’s stock worth $37,154,000 after acquiring an additional 130,699 shares during the last quarter. Ellsworth Advisors LLC increased its position in Radware by 7.9% in the first quarter. Ellsworth Advisors LLC now owns 30,258 shares of the information technology services provider’s stock worth $654,000 after purchasing an additional 2,206 shares during the period. Inspire Investing LLC acquired a new stake in Radware in the first quarter worth about $738,000. Public Employees Retirement System of Ohio raised its holdings in Radware by 14.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 59,166 shares of the information technology services provider’s stock worth $1,742,000 after purchasing an additional 7,309 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Radware by 172.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,000 shares of the information technology services provider’s stock valued at $530,000 after purchasing an additional 11,400 shares during the period. 73.12% of the stock is currently owned by institutional investors.

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.