Radware (NASDAQ:RDWR) Stock Price Up 9.2% - Still a Buy?

Radware Ltd. (NASDAQ:RDWR - Get Free Report)'s stock price traded up 9.2% during mid-day trading on Friday . The company traded as high as $25.90 and last traded at $26.66. 169,618 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 220,333 shares. The stock had previously closed at $24.41.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut 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 Trading Up 2.6%

The company has a market cap of $1.16 billion, a price-to-earnings ratio of 194.94 and a beta of 0.93. The firm's fifty day simple moving average is $22.90 and its 200 day simple moving average is $22.60.

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 (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $72.08 million during the quarter, compared to analysts' expectations of $70.56 million. Radware had a net margin of 2.20% and a return on equity of 3.81%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts expect that Radware Ltd. will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Inspire Investing LLC acquired a new position in Radware in the first quarter valued at approximately $738,000. Ellsworth Advisors LLC grew its position in shares of Radware by 7.9% in the 1st quarter. Ellsworth Advisors LLC now owns 30,258 shares of the information technology services provider's stock valued at $654,000 after buying an additional 2,206 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Radware by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,718,260 shares of the information technology services provider's stock valued at $37,154,000 after buying an additional 130,699 shares during the last quarter. Magnetar Financial LLC raised its stake in Radware by 359.1% during the 1st quarter. Magnetar Financial LLC now owns 44,200 shares of the information technology services provider's stock worth $956,000 after acquiring an additional 34,572 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Radware in the first quarter valued at $792,000. 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.