Radware (NASDAQ:RDWR) Hits New 52-Week High - Time to Buy?

Radware Ltd. (NASDAQ:RDWR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.83 and last traded at $30.37, with a volume of 9348 shares changing hands. The stock had previously closed at $30.49.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RDWR shares. Jefferies Financial Group decreased 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. Wolfe Research started coverage on Radware in a report on Tuesday. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Radware Price Performance

The firm has a 50 day simple moving average of $25.60 and a two-hundred day simple moving average of $23.33. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 108.56 and a beta of 0.99.

Radware (NASDAQ:RDWR - Get Free Report) last released its earnings results 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. Radware had a return on equity of 5.39% and a net margin of 4.12%. The firm had revenue of $72.08 million for the quarter, compared to analyst estimates of $70.56 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Radware

A number of hedge funds have recently modified their holdings of RDWR. Cooper Creek Partners Management LLC raised its position in shares of Radware by 264.3% during the fourth 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 period. Legal & General Group Plc lifted its stake in 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 acquiring an additional 287,913 shares in the last quarter. Nuveen LLC bought a new stake in Radware in the 1st quarter valued at approximately $4,213,000. Man Group plc lifted its stake in Radware by 506.9% in the 4th 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 4th 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 in the last quarter. Institutional investors and hedge funds 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.