Radware (NASDAQ:RDWR) Share Price Passes Above 200-Day Moving Average - Here's Why

Shares of Radware Ltd. (NASDAQ:RDWR - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.77 and traded as high as $28.28. Radware shares last traded at $28.25, with a volume of 235,859 shares traded.

Analyst Ratings Changes

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 note on Monday, March 31st.

Radware Stock Up 0.1%

The stock's 50 day moving average is $24.25 and its 200-day moving average is $22.89. The company has a market cap of $1.25 billion, a PE ratio of 108.04 and a beta of 0.93.

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

Institutional Investors Weigh In On Radware

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Radware by 34.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,660 shares of the information technology services provider's stock worth $1,885,000 after purchasing an additional 21,252 shares during the period. Envestnet Asset Management Inc. lifted its stake in Radware by 424.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 51,904 shares of the information technology services provider's stock worth $1,169,000 after purchasing an additional 42,009 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Radware during the first quarter valued at approximately $2,127,000. Barclays PLC grew its stake in shares of Radware by 179.9% during the fourth quarter. Barclays PLC now owns 44,072 shares of the information technology services provider's stock valued at $992,000 after buying an additional 28,329 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Radware by 19.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 158,574 shares of the information technology services provider's stock valued at $3,573,000 after buying an additional 25,907 shares during the last quarter. Hedge funds and other institutional investors 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.