Radware (NASDAQ:RDWR) Hits New 1-Year High – Here’s Why

Radware Ltd. (NASDAQ:RDWR)’s stock price reached a new 52-week high on Monday . The stock traded as high as $24.34 and last traded at $24.08, with a volume of 54748 shares trading hands. The stock had previously closed at $23.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RDWR shares. StockNews.com upgraded Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Radware in a report on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of Radware from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

Radware Trading Down 0.9 %

The firm has a 50-day simple moving average of $21.99 and a two-hundred day simple moving average of $19.85. The company has a market capitalization of $968.29 million, a price-to-earnings ratio of -79.52 and a beta of 0.97.

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. The firm had revenue of $67.28 million for the quarter, compared to the consensus estimate of $66.10 million. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. On average, sell-side analysts forecast that Radware Ltd. will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Radware

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Radware during the third quarter valued at about $51,000. BNP Paribas Financial Markets raised its stake in shares of Radware by 239.5% in 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Radware in the 2nd quarter valued at approximately $120,000. Van ECK Associates Corp lifted its holdings in Radware by 16.4% in the 2nd quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock worth $167,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Radware during the second quarter worth approximately $169,000. Institutional investors and hedge funds 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.