Radware (NASDAQ:RDWR) Reaches New 52-Week High - Here's Why

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RDWR shares. Wolfe Research began coverage on shares of Radware in a report on Tuesday. They issued an "outperform" rating on the stock. Jefferies Financial Group decreased their price objective on shares of Radware from $26.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Two research 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. Based on data from MarketBeat.com, Radware presently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Radware Trading Down 0.5%

The stock's 50 day moving average is $25.47 and its 200 day moving average is $23.28. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 113.49 and a beta of 0.99.

Radware (NASDAQ:RDWR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share for the quarter, topping 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 period last year, the company earned $0.16 earnings per share. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Radware Ltd. will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Radware

Large investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC lifted its stake in Radware by 264.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider's stock valued at $21,556,000 after acquiring an additional 694,112 shares during the last quarter. Legal & General Group Plc increased its position 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 during the period. Nuveen LLC acquired a new stake in Radware during the first quarter worth approximately $4,213,000. Man Group plc grew its holdings in shares of 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 buying an additional 183,258 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Radware by 23.8% during 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 purchasing an additional 140,135 shares during 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.