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

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

Analysts Set New Price Targets

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

Radware Stock Performance

The firm has a market cap of $1.01 billion, a PE ratio of -402.10 and a beta of 0.97. The company’s 50-day simple moving average is $22.55 and its two-hundred day simple moving average is $20.80.

Institutional Trading of Radware

A number of institutional investors have recently modified their holdings of the company. Verition Fund Management LLC raised its position in Radware by 3.0% during the 3rd quarter. Verition Fund Management LLC now owns 16,084 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 468 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Radware by 4.6% during the third quarter. Tidal Investments LLC now owns 26,541 shares of the information technology services provider’s stock valued at $591,000 after buying an additional 1,173 shares during the period. Van ECK Associates Corp raised its holdings in shares of Radware by 16.4% during the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock valued at $167,000 after acquiring an additional 1,291 shares in the last quarter. nVerses Capital LLC purchased a new stake in Radware in the third quarter worth $51,000. Finally, Algert Global LLC boosted its holdings in Radware by 15.9% in the third quarter. Algert Global LLC now owns 19,043 shares of the information technology services provider’s stock valued at $424,000 after acquiring an additional 2,610 shares in the last quarter. 73.12% of the stock is currently owned by hedge funds and other 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.