Radware (NASDAQ:RDWR) Given New $30.00 Price Target at Barclays

Radware (NASDAQ:RDWR) had its price target lifted by Barclays from $23.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

RDWR has been the topic of several other research reports. StockNews.com raised shares of Radware from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Radware in a research report on Wednesday, July 31st.

Radware Trading Down 3.6 %

RDWR stock opened at $21.69 on Thursday. The company has a market cap of $910.76 million, a price-to-earnings ratio of -361.44 and a beta of 0.97. The firm has a 50 day moving average of $22.01 and a 200-day moving average of $20.10. Radware has a 12-month low of $14.19 and a 12-month high of $24.34.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 EPS for the quarter. Radware had a negative net margin of 0.85% and a positive return on equity of 1.43%. The business had revenue of $67.28 million for the quarter, compared to analyst estimates of $66.10 million. Sell-side analysts forecast that Radware will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Radware

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Radware by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock worth $31,917,000 after purchasing an additional 193,689 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Radware by 7.1% during the second quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock valued at $31,577,000 after buying an additional 115,089 shares during the period. Rice Hall James & Associates LLC boosted its position in Radware by 6.4% during the third quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock worth $20,757,000 after acquiring an additional 56,116 shares during the last quarter. Millennium Management LLC grew its stake in Radware by 2,346.9% in the 2nd quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock worth $6,944,000 after acquiring an additional 365,131 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Radware in the 2nd quarter valued at $4,453,000. Hedge funds and other institutional investors own 73.12% of the company’s stock.

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.