Radware (NASDAQ:RDWR) Sets New 12-Month High – Time to Buy?

Radware Ltd. (NASDAQ:RDWR) hit 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 changing hands. The stock had previously closed at $28.25.

Wall Street Analysts Forecast Growth

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

Radware Stock Performance

The company has a market cap of $1.22 billion, a price-to-earnings ratio of 106.08 and a beta of 0.93. The company’s fifty day moving average is $23.79 and its two-hundred day moving average is $22.77.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $72.08 million during the quarter, compared to analysts’ expectations of $70.56 million. Radware had a return on equity of 5.39% and a net margin of 4.12%. The company’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 EPS. On average, sell-side analysts anticipate that Radware Ltd. will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Radware

Several hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its position in shares of Radware by 2.4% in the fourth quarter. Invesco Ltd. now owns 36,094 shares of the information technology services provider’s stock valued at $813,000 after purchasing an additional 855 shares in the last quarter. Geode Capital Management LLC grew its holdings in Radware by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 79,686 shares of the information technology services provider’s stock valued at $1,795,000 after buying an additional 902 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Radware by 10.1% in the 4th quarter. Bank of Montreal Can now owns 11,007 shares of the information technology services provider’s stock worth $248,000 after acquiring an additional 1,007 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Radware by 5.6% in the 4th quarter. Deutsche Bank AG now owns 19,689 shares of the information technology services provider’s stock worth $444,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Inceptionr LLC raised its holdings in shares of Radware by 8.6% during the 4th quarter. Inceptionr LLC now owns 14,737 shares of the information technology services provider’s stock worth $332,000 after acquiring an additional 1,161 shares during the period. 73.12% of the stock is owned by hedge funds and other 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.