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

Key Points

• Radware shares reached a new 52-week high of $33.20 and were last trading near $33.15, up 6.1%, with a market capitalization of approximately $1.44 billion.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with an average price target of $25.00, despite one recent upgrade to “Buy.”
• Radware reported quarterly EPS of $0.30 on revenue of $82.28 million. Insiders own 21.58% of the company, while institutional investors and hedge funds hold 73.12%.

Radware Ltd. (NASDAQ:RDWR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as $33.20 and last traded at $33.1450, with a volume of 53,477 shares trading hands. The stock had previously closed at $32.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Radware from a "hold" rating to a "buy" rating in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Radware from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $25.00.

Radware Trading Up 6.1%

The company has a fifty day moving average of $29.15 and a 200-day moving average of $27.49. The stock has a market cap of $1.44 billion, a PE ratio of 89.79 and a beta of 0.86.

Radware (NASDAQ:RDWR - Get Free Report) last announced its earnings results on Tuesday, June 30th. The information technology services provider reported $0.30 EPS for the quarter. The company had revenue of $82.28 million during the quarter. Radware had a return on equity of 7.47% and a net margin of 5.34%.

Insider Activity at Radware

In other Radware news, CFO Guy Avidan acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $25.21 per share, for a total transaction of $50,420.00. Following the completion of the acquisition, the chief financial officer owned 95,800 shares of the company's stock, valued at approximately $2,415,118. This trade represents a 2.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gabriel Malka sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $195,000.00. Following the sale, the chief operating officer directly owned 47,922 shares in the company, valued at approximately $1,437,660. The trade was a 11.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 21.58% of the company's stock.

Hedge Funds Weigh In On Radware

Several institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Radware during the second quarter worth $27,000. Parallel Advisors LLC boosted its stake in shares of Radware by 48.8% in the 1st quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider's stock valued at $30,000 after buying an additional 374 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Radware by 27.9% in the 1st quarter. Pacer Advisors Inc. now owns 5,409 shares of the information technology services provider's stock valued at $142,000 after buying an additional 1,179 shares during the period. Eagle Harbor Asset Management Inc. ADV boosted its stake in shares of Radware by 10.5% in the 3rd quarter. Eagle Harbor Asset Management Inc. ADV now owns 9,729 shares of the information technology services provider's stock valued at $290,000 after buying an additional 921 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Radware by 3.7% during the second quarter. Handelsbanken Fonder AB now owns 19,500 shares of the information technology services provider's stock worth $602,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company's stock.

About Radware

Radware Ltd. NASDAQ: RDWR is a global provider of cybersecurity and application delivery solutions. The company helps organizations protect digital applications, networks and cloud environments from cyberattacks while maintaining the availability and performance of online services.

Its portfolio includes distributed denial-of-service (DDoS) protection, web application and API security, bot management, cloud security services, and network behavior analysis. Radware also offers application delivery controllers, load balancing and related traffic-management technologies designed to improve the reliability, scalability and performance of business-critical applications.

Founded in 1996, Radware serves enterprises, telecommunications providers, cloud service providers and other organizations worldwide through a combination of on-premises, cloud-based and hybrid solutions.

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