Radware (NASDAQ:RDWR) Sets New 52-Week High – What’s Next?

Radware Ltd. (NASDAQ:RDWR)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.70 and last traded at $28.83, with a volume of 22091 shares trading hands. The stock had previously closed at $28.25.

Analysts Set New Price Targets

Separately, Jefferies Financial Group dropped their target price on Radware from $26.00 to $24.00 and set a “hold” rating for the company in a report on Monday, March 31st.

Radware Stock Performance

The company’s fifty day moving average price is $23.79 and its 200-day moving average price is $22.77. The stock has a market cap of $1.22 billion, a P/E ratio of 106.08 and a beta of 0.93.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Radware had a net margin of 4.12% and a return on equity of 5.39%. The business had revenue of $72.08 million during the quarter, compared to the consensus estimate of $70.56 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of Radware

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd bought a new position in Radware in the fourth quarter worth approximately $28,000. Plato Investment Management Ltd purchased a new stake in shares of Radware in the 4th quarter worth $30,000. New Age Alpha Advisors LLC bought a new position in shares of Radware during the 4th quarter worth $32,000. Quantbot Technologies LP bought a new position in shares of Radware during the 4th quarter worth $59,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Radware during the fourth quarter valued at $149,000. 73.12% of the stock is currently owned by 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.