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

Radware Ltd. (NASDAQ:RDWR) shares 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 brokerages have weighed in on RDWR. Barclays boosted their price objective on Radware from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. StockNews.com raised shares of Radware from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd.

Radware Stock Up 7.7 %

The business has a fifty day moving average of $18.00 and a 200 day moving average of $17.07. The company has a market cap of $821.51 million, a P/E ratio of -36.94 and a beta of 0.97.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, February 7th. The information technology services provider reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $64.01 million. During the same period last year, the company posted ($0.04) EPS. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Radware Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in 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 purchasing an additional 1,774 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Radware by 239.5% during 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 acquiring an additional 4,539 shares during the period. Citigroup Inc. boosted its stake in Radware by 16.8% during the third quarter. Citigroup Inc. now owns 101,821 shares of the information technology services provider’s stock worth $1,723,000 after acquiring an additional 14,623 shares in the last quarter. Trexquant Investment LP purchased a new stake in Radware in the fourth quarter worth about $445,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Radware by 22.9% during 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. Institutional investors own 73.12% of the company’s stock.

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.