Radware (NASDAQ:RDWR) Reaches New 1-Year High – Still a Buy?

Radware Ltd. (NASDAQ:RDWR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.34 and last traded at $24.26, with a volume of 301306 shares. The stock had previously closed at $22.06.

Analyst Ratings Changes

RDWR has been the topic of a number of recent analyst reports. Barclays raised their price target on Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC raised shares of Radware to a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st.

Radware Stock Performance

The company has a market capitalization of $1.00 billion, a P/E ratio of -395.50 and a beta of 0.97. The firm’s fifty day moving average is $22.04 and its 200-day moving average is $20.41.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC grew its position in shares of Radware by 15.9% during the 3rd quarter. Algert Global LLC now owns 19,043 shares of the information technology services provider’s stock worth $424,000 after buying an additional 2,610 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Radware by 159.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 587,570 shares of the information technology services provider’s stock worth $13,091,000 after purchasing an additional 360,710 shares during the period. Banque Cantonale Vaudoise increased its stake in Radware by 9.6% in the third quarter. Banque Cantonale Vaudoise now owns 94,770 shares of the information technology services provider’s stock valued at $2,111,000 after purchasing an additional 8,288 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Radware by 247.3% during the third quarter. GSA Capital Partners LLP now owns 114,762 shares of the information technology services provider’s stock valued at $2,557,000 after purchasing an additional 81,718 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Radware by 162.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 55,513 shares of the information technology services provider’s stock worth $1,237,000 after purchasing an additional 34,332 shares in the last quarter. 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.