Radware (NASDAQ:RDWR) Sets New 1-Year High – Should You Buy?

Shares of Radware Ltd. (NASDAQ:RDWR) reached a new 52-week high on Tuesday . The company traded as high as $28.70 and last traded at $28.83, with a volume of 22091 shares. The stock had previously closed at $28.25.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price target on Radware from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, March 31st.

Radware Trading Up 1.0%

The stock has a market cap of $1.22 billion, a P/E ratio of 106.04 and a beta of 0.93. The company’s fifty day simple moving average is $24.09 and its 200-day simple moving average is $22.85.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $72.08 million for the quarter, compared to analysts’ expectations of $70.56 million. Radware had a net margin of 4.12% and a return on equity of 5.39%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of Radware

Several institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in Radware during the fourth quarter worth $30,000. Inceptionr LLC lifted its holdings in Radware by 8.6% during the 4th quarter. Inceptionr LLC now owns 14,737 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 1,161 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Radware by 23.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 727,705 shares of the information technology services provider’s stock valued at $16,395,000 after purchasing an additional 140,135 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Radware in the fourth quarter valued at about $214,000. Finally, Quantbot Technologies LP bought a new stake in Radware during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 73.12% of the company’s stock.

Radware Company Profile

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.