Radware (NASDAQ:RDWR) Sets New 52-Week High - Still a Buy?

Radware Ltd. (NASDAQ:RDWR - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $29.47 and last traded at $29.33, with a volume of 4885 shares. The stock had previously closed at $29.17.

Analyst Upgrades and Downgrades

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

Radware Trading Up 0.4%

The company has a market capitalization of $1.25 billion, a PE ratio of 108.87 and a beta of 0.93. The company's 50 day moving average price is $24.41 and its 200-day moving average price is $22.92.

Radware (NASDAQ:RDWR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The company had revenue of $72.08 million for the quarter, compared to analysts' expectations of $70.56 million. Radware had a return on equity of 5.39% and a net margin of 4.12%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts predict that Radware Ltd. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Radware

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC bought a new position in shares of Radware during the first quarter worth about $738,000. Ellsworth Advisors LLC boosted its holdings in shares of Radware by 7.9% in the first quarter. Ellsworth Advisors LLC now owns 30,258 shares of the information technology services provider's stock valued at $654,000 after acquiring an additional 2,206 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Radware by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,718,260 shares of the information technology services provider's stock worth $37,154,000 after purchasing an additional 130,699 shares in the last quarter. Magnetar Financial LLC increased its position in shares of Radware by 359.1% during the 1st quarter. Magnetar Financial LLC now owns 44,200 shares of the information technology services provider's stock valued at $956,000 after purchasing an additional 34,572 shares during the period. Finally, Walleye Capital LLC bought a new position in Radware during the first quarter valued at about $792,000. 73.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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