Radware (NASDAQ:RDWR) Reaches New 1-Year High – Here’s Why

Radware Ltd. (NASDAQ:RDWR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.34 and last traded at $24.08, with a volume of 54748 shares traded. The stock had previously closed at $23.24.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Radware from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Radware in a report on Wednesday, July 31st. Finally, StockNews.com raised Radware from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st.

Radware Trading Up 0.5 %

The stock has a 50 day moving average price of $21.92 and a 200 day moving average price of $19.78. The company has a market cap of $1.04 billion, a PE ratio of -50.52 and a beta of 0.97.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 earnings per share for the quarter. Radware had a negative net margin of 4.73% and a negative return on equity of 0.72%. The business had revenue of $67.28 million during the quarter, compared to analyst estimates of $66.10 million. Equities analysts expect that Radware Ltd. will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Radware

Several large investors have recently bought and sold shares of RDWR. Renaissance Technologies LLC increased its position in Radware by 12.4% during the second quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock valued at $31,917,000 after acquiring an additional 193,689 shares during the last quarter. Acadian Asset Management LLC raised its stake in Radware by 7.1% during the second quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock valued at $31,577,000 after purchasing an additional 115,089 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Radware by 2,346.9% in the 2nd quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock valued at $6,944,000 after acquiring an additional 365,131 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Radware during the second quarter worth approximately $4,453,000. Finally, ARK Investment Management LLC raised its position in Radware by 7.0% during the second quarter. ARK Investment Management LLC now owns 133,559 shares of the information technology services provider’s stock valued at $2,436,000 after purchasing an additional 8,715 shares during the period. 73.12% of the stock is currently owned by institutional investors.

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.