Radware (NASDAQ:RDWR) Hits New 1-Year High - Here's Why

Radware Ltd. (NASDAQ:RDWR - Get Free Report)'s share price hit a new 52-week high during trading on Saturday . The stock traded as high as $27.11 and last traded at $26.60, with a volume of 890940 shares traded. The stock had previously closed at $24.41.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered their price target on Radware from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Monday, March 31st.

Radware Stock Up 1.3%

The firm has a market capitalization of $1.18 billion, a PE ratio of 102.37 and a beta of 0.93. The business's 50-day moving average price is $23.20 and its 200-day moving average price is $22.66.

Radware (NASDAQ:RDWR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $72.08 million for the quarter, compared to analyst estimates of $70.56 million. Radware had a net margin of 4.12% and a return on equity of 5.39%. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. On average, analysts anticipate that Radware Ltd. will post 0.28 EPS for the current fiscal year.

Institutional Trading of Radware

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cooper Creek Partners Management LLC increased its position in Radware by 264.3% in the 4th quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider's stock worth $21,556,000 after purchasing an additional 694,112 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Radware by 14.8% in the 4th quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider's stock valued at $50,370,000 after buying an additional 287,913 shares in the last quarter. Nuveen LLC acquired a new position in Radware in the first quarter worth approximately $4,213,000. Man Group plc raised its position in Radware by 506.9% during the fourth quarter. Man Group plc now owns 219,408 shares of the information technology services provider's stock valued at $4,943,000 after acquiring an additional 183,258 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Radware by 23.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 727,705 shares of the information technology services provider's stock valued at $16,395,000 after acquiring an additional 140,135 shares during the last quarter. 73.12% of the stock is currently owned by hedge funds and other 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.