Wall Street Zen Upgrades Radware (NASDAQ:RDWR) to Buy

Key Points

• Wall Street Zen upgraded Radware from “hold” to “buy,” while Weiss Ratings raised its view from “sell” to “hold.” Despite the upgrades, Radware’s overall analyst consensus remains “Hold,” with a $25 target price.
• Radware shares opened at $29.64, near their 50-day and 200-day moving averages, with a market capitalization of $1.25 billion and a high price-to-earnings ratio of 78.
• The company reported quarterly revenue of $82.28 million and earnings of $0.30 per share. Institutional investors own 73.12% of the stock, while insiders own 21.58%; recent insider activity included a COO stock sale and a CFO purchase.

Radware (NASDAQ:RDWR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Tuesday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Radware from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $25.00.

Radware Stock Performance

NASDAQ RDWR opened at $29.64 on Tuesday. The firm's 50 day moving average price is $28.99 and its two-hundred day moving average price is $28.40. Radware has a twelve month low of $21.68 and a twelve month high of $32.79. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 78.00 and a beta of 0.86.

Radware (NASDAQ:RDWR - Get Free Report) last issued its earnings results on Tuesday, June 30th. The information technology services provider reported $0.30 earnings per share for the quarter. Radware had a return on equity of 7.47% and a net margin of 5.34%. The company had revenue of $82.28 million for the quarter.

Insider Transactions at Radware

In related news, COO Gabriel Malka sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $195,000.00. Following the sale, the chief operating officer directly owned 47,922 shares in the company, valued at $1,437,660. This represents a 11.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Avidan purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $25.21 per share, with a total value of $50,420.00. Following the completion of the acquisition, the chief financial officer directly owned 95,800 shares in the company, valued at approximately $2,415,118. This represents a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 21.58% of the company's stock.

Hedge Funds Weigh In On Radware

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Radware in the second quarter valued at $27,000. Parallel Advisors LLC lifted its position in Radware by 48.8% during the 1st quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider's stock worth $30,000 after buying an additional 374 shares in the last quarter. Capital Advisors Ltd. LLC bought a new stake in Radware during the 1st quarter worth about $79,000. Pacer Advisors Inc. grew its holdings in Radware by 27.9% during the 1st quarter. Pacer Advisors Inc. now owns 5,409 shares of the information technology services provider's stock worth $142,000 after acquiring an additional 1,179 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Radware by 3.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the information technology services provider's stock worth $602,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company's stock.

About Radware

Radware Ltd. NASDAQ: RDWR is a global provider of cybersecurity and application delivery solutions. The company helps organizations protect digital applications, networks and data from cyber threats while maintaining the availability, performance and reliability of business-critical services.

Its portfolio includes distributed denial-of-service (DDoS) protection, web application and API protection, bot management, network and application security, and cloud-based security services. Radware also offers application delivery controllers and related traffic-management technologies under its Alteon product line, as well as services designed to support hybrid, on-premises and cloud environments.

Founded in 1996, Radware serves enterprises, telecommunications carriers, cloud service providers and other organizations worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.