Needham & Company LLC Reiterates “Hold” Rating for Radware (NASDAQ:RDWR)

Needham & Company LLC reiterated their hold rating on shares of Radware (NASDAQ:RDWR) in a research note issued to investors on Wednesday morning, Benzinga reports.

Separately, StockNews.com cut Radware from a strong-buy rating to a buy rating in a research note on Thursday, July 25th.

Radware Price Performance

NASDAQ RDWR opened at $22.26 on Wednesday. The stock has a fifty day moving average of $18.68 and a 200-day moving average of $18.41. Radware has a 52 week low of $13.53 and a 52 week high of $23.05.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The business had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Radware will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new position in Radware during the fourth quarter worth about $445,000. First Trust Advisors LP lifted its holdings in Radware by 90.4% during the fourth quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock worth $40,815,000 after acquiring an additional 1,161,535 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings 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 valued at $236,000 after purchasing an additional 1,774 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Radware by 22.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,654,735 shares of the information technology services provider’s stock valued at $27,601,000 after purchasing an additional 308,396 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Radware by 239.5% in the first 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. 73.12% of the stock is currently owned by institutional investors.

About Radware

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.