Radware's (RDWR) "Hold" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company reiterated a Hold rating on Radware, aligning with a MarketBeat consensus of "Hold" (2 Buy, 2 Hold, 1 Sell) and an average analyst target price of $30.00.
• Radware's Board authorized an $80.00 million stock buyback, allowing repurchases of up to 7.1% of outstanding shares, a move often viewed as management signaling the stock is undervalued.
• In the most recent quarter Radware reported $0.30 EPS on $79.81 million in revenue; the stock traded around $27.95 with a market cap of about $1.18 billion and a P/E near 62.

Radware (NASDAQ:RDWR - Get Free Report)'s stock had its "hold" rating reiterated by Needham & Company LLC in a report issued on Thursday,Benzinga reports.

RDWR has been the topic of several other research reports. Wall Street Zen upgraded Radware from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Weiss Ratings restated a "sell (d+)" rating on shares of Radware in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.00.

Radware Stock Performance

RDWR traded up $1.09 during midday trading on Thursday, reaching $27.95. 106,943 shares of the company were exchanged, compared to its average volume of 262,060. The stock's 50-day simple moving average is $25.55 and its 200 day simple moving average is $24.75. The stock has a market capitalization of $1.18 billion, a P/E ratio of 62.06 and a beta of 0.81. Radware has a one year low of $21.42 and a one year high of $31.57.

Radware (NASDAQ:RDWR - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The information technology services provider reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $79.81 million during the quarter. Radware had a net margin of 6.71% and a return on equity of 7.21%.

Radware announced that its Board of Directors has initiated a stock buyback plan on Friday, February 13th that permits the company to repurchase $80.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Radware

Institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of Radware by 28.9% in the fourth quarter. Morgan Stanley now owns 2,619,687 shares of the information technology services provider's stock valued at $63,108,000 after buying an additional 588,064 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Radware by 16.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider's stock worth $82,920,000 after acquiring an additional 431,572 shares during the last quarter. Defiance ETFs LLC bought a new stake in Radware in the 4th quarter valued at $9,152,000. First Trust Advisors LP raised its stake in Radware by 28.7% in the 4th quarter. First Trust Advisors LP now owns 1,562,396 shares of the information technology services provider's stock valued at $37,638,000 after acquiring an additional 348,824 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Radware by 908.4% during the 4th quarter. Deutsche Bank AG now owns 302,478 shares of the information technology services provider's stock valued at $7,287,000 after purchasing an additional 272,481 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company's stock.

Radware Company Profile

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.

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