Radware (NASDAQ:RDWR) Shares Gap Up to $17.22

Shares of Radware Ltd. (NASDAQ:RDWR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $17.22, but opened at $18.36. Radware shares last traded at $18.08, with a volume of 36,464 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RDWR shares. StockNews.com raised shares of Radware from a "hold" rating to a "buy" rating in a research report on Thursday, February 22nd. Barclays boosted their price objective on Radware from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th.

Radware Trading Up 11.3 %

The business has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $17.07. The stock has a market capitalization of $848.98 million, a P/E ratio of -36.94 and a beta of 0.97.

Radware (NASDAQ:RDWR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Radware had a negative net margin of 8.26% and a negative return on equity of 2.88%. The business had revenue of $65.03 million during the quarter, compared to the consensus estimate of $64.01 million. During the same quarter last year, the company posted ($0.04) earnings per share. The firm's quarterly revenue was down 12.2% compared to the same quarter last year. As a group, research analysts forecast that Radware Ltd. will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDWR. BNP Paribas Financial Markets boosted its stake in shares of Radware by 239.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider's stock valued at $120,000 after purchasing an additional 4,539 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Radware by 14.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 14,139 shares of the information technology services provider's stock worth $236,000 after buying an additional 1,774 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Radware during the fourth quarter valued at $445,000. Citigroup Inc. grew its position in Radware by 16.8% in the 3rd quarter. Citigroup Inc. now owns 101,821 shares of the information technology services provider's stock worth $1,723,000 after purchasing an additional 14,623 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Radware during the 3rd quarter valued at about $6,902,000. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Radware Company Profile

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.