Radware (NASDAQ:RDWR) Shares Gap Down to $21.06

Posted by on Jun 17th, 2022

Radware Ltd. (NASDAQ:RDWR – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $21.06, but opened at $20.06. Radware shares last traded at $20.06, with a volume of 1 shares changing hands.

Separately, StockNews.com began coverage on shares of Radware in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Radware has an average rating of “Buy” and an average price target of $39.33.

The business’s 50 day moving average is $26.37 and its 200 day moving average is $31.15. The company has a market capitalization of $972.88 million, a price-to-earnings ratio of 131.63, a PEG ratio of 43.51 and a beta of 1.06.

Radware (NASDAQ:RDWR – Get Rating) last released its earnings results on Tuesday, May 3rd. The information technology services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $73.59 million. Radware had a net margin of 2.62% and a return on equity of 5.79%. Radware’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. Equities analysts predict that Radware Ltd. will post 0.5 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in Radware by 3.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,068,839 shares of the information technology services provider’s stock valued at $66,141,000 after acquiring an additional 74,400 shares during the period. First Trust Advisors LP lifted its stake in Radware by 87.7% during the 4th quarter. First Trust Advisors LP now owns 1,842,885 shares of the information technology services provider’s stock valued at $76,738,000 after acquiring an additional 860,799 shares during the period. Acadian Asset Management LLC lifted its stake in Radware by 0.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,794,789 shares of the information technology services provider’s stock valued at $74,707,000 after acquiring an additional 7,313 shares during the period. Loomis Sayles & Co. L P lifted its stake in Radware by 71.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,245,971 shares of the information technology services provider’s stock valued at $39,834,000 after acquiring an additional 519,521 shares during the period. Finally, BlackRock Inc. lifted its stake in Radware by 2.5% during the 1st quarter. BlackRock Inc. now owns 1,237,967 shares of the information technology services provider’s stock valued at $39,580,000 after acquiring an additional 30,707 shares during the period. Institutional investors own 76.78% of the company’s stock.

About Radware (NASDAQ:RDWR)

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for applications in cloud, physical, and software defined data centers worldwide. The company offers DefensePro, a real-time network attack mitigation device; AppWall, a Web application firewall; Radware Kubernetes WAF, a Web application firewall solution for CI/CD environments orchestrated by Kubernetes; and DefenseFlow, a cyber-command and control application.

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