Radware (NASDAQ:RDWR) Sets New 1-Year High – Here’s Why

Radware Ltd. (NASDAQ:RDWR)’s stock price reached a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

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

Radware Stock Performance

The stock has a market capitalization of $1.01 billion, a PE ratio of -402.10 and a beta of 0.97. The business’s 50-day moving average price is $22.55 and its 200 day moving average price is $20.80.

Hedge Funds Weigh In On Radware

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its position in shares of Radware by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 26,541 shares of the information technology services provider’s stock valued at $591,000 after acquiring an additional 1,173 shares during the last quarter. Barclays PLC lifted its position in Radware by 137.4% during the third quarter. Barclays PLC now owns 15,743 shares of the information technology services provider’s stock valued at $350,000 after purchasing an additional 9,112 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Radware in the 3rd quarter worth approximately $1,117,000. State Street Corp increased its holdings in shares of Radware by 4.2% in the 3rd quarter. State Street Corp now owns 586,660 shares of the information technology services provider’s stock worth $13,071,000 after buying an additional 23,725 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Radware by 78.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,800 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 5,200 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.