Radware (NASDAQ:RDWR) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. (PRESS RELEASE) “

RDWR has been the topic of several other reports. TheStreet upgraded shares of Exantas Capital from a d+ rating to a c rating in a report on Thursday, May 2nd. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Radware presently has an average rating of Buy and an average target price of $29.50.

NASDAQ:RDWR opened at $24.74 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 85.31, a price-to-earnings-growth ratio of 3.34 and a beta of 0.90. The company has a 50-day moving average price of $24.50. Radware has a 1-year low of $21.43 and a 1-year high of $28.50.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, May 1st. The information technology services provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. The company had revenue of $61.40 million for the quarter, compared to analyst estimates of $59.43 million. Radware had a net margin of 7.09% and a return on equity of 5.54%. Radware’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. As a group, analysts forecast that Radware will post 0.41 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Cypress Capital Management LLC WY acquired a new position in shares of Radware in the 1st quarter worth approximately $52,000. Dupont Capital Management Corp acquired a new position in shares of Radware in the 1st quarter worth approximately $105,000. Penserra Capital Management LLC acquired a new position in shares of Radware in the 1st quarter worth approximately $107,000. Paloma Partners Management Co acquired a new position in shares of Radware in the 4th quarter worth approximately $202,000. Finally, Qtron Investments LLC acquired a new position in shares of Radware in the 1st quarter worth approximately $275,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.

About Radware

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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