Radware (NASDAQ:RDWR) Reaches New 12-Month High After Analyst Upgrade

Radware Ltd. (NASDAQ:RDWR) reached a new 52-week high on Thursday after Barclays raised their price target on the stock from $22.00 to $23.00. Barclays currently has an overweight rating on the stock. Radware traded as high as $23.05 and last traded at $22.74, with a volume of 31903 shares changing hands. The stock had previously closed at $22.66.

Several other research firms have also issued reports on RDWR. Needham & Company LLC restated a “hold” rating on shares of Radware in a report on Wednesday. StockNews.com cut Radware from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th.

Institutional Trading of Radware

Several hedge funds and other institutional investors have recently made changes to their positions in RDWR. First Trust Advisors LP grew its position in Radware by 90.4% during the 4th quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock worth $40,815,000 after purchasing an additional 1,161,535 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Radware by 22.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,654,735 shares of the information technology services provider’s stock valued at $27,601,000 after buying an additional 308,396 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Radware by 67.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock worth $1,777,000 after acquiring an additional 39,117 shares during the period. Trexquant Investment LP purchased a new position in shares of Radware during the 4th quarter valued at approximately $445,000. Finally, Tidal Investments LLC purchased a new stake in Radware during the 1st quarter worth approximately $494,000. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Radware Price Performance

The firm has a market cap of $1.01 billion, a PE ratio of -48.59 and a beta of 0.98. The stock’s fifty day moving average price is $18.64 and its 200-day moving average price is $18.39.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Radware had a negative net margin of 7.67% and a negative return on equity of 2.62%. The business had revenue of $65.10 million for the quarter, compared to analyst estimates of $63.57 million. During the same period last year, the company posted ($0.02) EPS. The business’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Radware Ltd. will post 0.08 earnings per share for the current fiscal year.

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.