Radware (NASDAQ:RDWR) Price Target Lowered to $24.00 at Jefferies Financial Group

Radware (NASDAQ:RDWR) had its price objective lowered by stock analysts at Jefferies Financial Group from $26.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 10.70% from the company’s previous close.

Separately, Needham & Company LLC restated a “hold” rating on shares of Radware in a research report on Friday, February 14th.

Radware Stock Performance

Shares of RDWR stock traded down $0.30 during mid-day trading on Monday, hitting $21.68. 30,139 shares of the stock were exchanged, compared to its average volume of 249,378. The stock’s fifty day simple moving average is $22.53 and its two-hundred day simple moving average is $22.55. Radware has a 12-month low of $16.12 and a 12-month high of $25.00. The stock has a market capitalization of $910.45 million, a price-to-earnings ratio of 154.87 and a beta of 0.95.

Radware (NASDAQ:RDWR) last released its quarterly earnings results on Wednesday, February 12th. The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.12). Radware had a return on equity of 3.81% and a net margin of 2.20%. On average, research analysts expect that Radware will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Radware

A number of large investors have recently modified their holdings of RDWR. Legal & General Group Plc raised its stake in shares of Radware by 14.8% during the fourth quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider’s stock valued at $50,370,000 after purchasing an additional 287,913 shares during the period. Cooper Creek Partners Management LLC boosted its position in Radware by 264.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider’s stock valued at $21,556,000 after purchasing an additional 694,112 shares during the period. First Trust Advisors LP grew its position in shares of Radware by 2.4% during the fourth quarter. First Trust Advisors LP now owns 882,255 shares of the information technology services provider’s stock worth $19,877,000 after acquiring an additional 20,658 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Radware by 23.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 727,705 shares of the information technology services provider’s stock valued at $16,395,000 after purchasing an additional 140,135 shares during the period. Finally, Millennium Management LLC raised its stake in Radware by 14.0% during the 4th quarter. Millennium Management LLC now owns 613,795 shares of the information technology services provider’s stock valued at $13,829,000 after acquiring an additional 75,474 shares in the last quarter. 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.