Radware (NASDAQ:RDWR) Given New $24.00 Price Target at Jefferies Financial Group

Radware (NASDAQ:RDWR) had its price objective dropped by equities research analysts at Jefferies Financial Group from $26.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the information technology services provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 10.70% from the stock’s current price.

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

Radware Stock Performance

Shares of NASDAQ RDWR traded down $0.30 during trading on Monday, hitting $21.68. 30,139 shares of the company were exchanged, compared to its average volume of 249,378. The company has a fifty day moving average price of $22.53 and a 200-day moving average price of $22.55. The firm has a market capitalization of $910.45 million, a PE ratio of 154.87 and a beta of 0.95. Radware has a 12-month low of $16.12 and a 12-month high of $25.00.

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

Institutional Investors Weigh In On Radware

Several large investors have recently added to or reduced their stakes in the business. Covestor Ltd purchased a new position in Radware in the fourth quarter valued at $28,000. Plato Investment Management Ltd purchased a new stake in Radware during the 4th quarter worth about $30,000. New Age Alpha Advisors LLC acquired a new position in shares of Radware during the 4th quarter worth about $32,000. Quantbot Technologies LP purchased a new position in shares of Radware in the 4th quarter valued at about $59,000. Finally, R Squared Ltd acquired a new stake in shares of Radware during the 4th quarter worth about $62,000. 73.12% of the stock is owned by hedge funds and other 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.