Radware (NASDAQ:RDWR) Hits New 12-Month High – Should You Buy?

Radware Ltd. (NASDAQ:RDWR)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.50 and last traded at $26.50, with a volume of 599 shares. The stock had previously closed at $22.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RDWR shares. Barclays upped their price objective on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. StockNews.com raised Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Needham & Company LLC upgraded Radware to a “hold” rating in a research note on Friday, November 1st.

Radware Stock Performance

The company has a market capitalization of $988.86 million, a PE ratio of -441.59 and a beta of 0.97. The company’s 50-day moving average is $22.47 and its 200 day moving average is $20.75.

Hedge Funds Weigh In On Radware

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in Radware by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock valued at $31,917,000 after acquiring an additional 193,689 shares during the period. Acadian Asset Management LLC boosted its holdings in Radware by 7.1% in the second quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock worth $31,577,000 after purchasing an additional 115,089 shares during the last quarter. Rice Hall James & Associates LLC grew its position in Radware by 6.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock worth $20,757,000 after purchasing an additional 56,116 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Radware by 159.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 587,570 shares of the information technology services provider’s stock valued at $13,091,000 after buying an additional 360,710 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Radware by 4.2% during the 3rd quarter. State Street Corp now owns 586,660 shares of the information technology services provider’s stock valued at $13,071,000 after buying an additional 23,725 shares during the period. 73.12% of the stock is owned by institutional investors.

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.