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

Radware Ltd. (NASDAQ:RDWR)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $24.34 and last traded at $24.26, with a volume of 301306 shares traded. The stock had previously closed at $22.06.

Wall Street Analysts Forecast Growth

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

Radware Stock Performance

The stock has a market capitalization of $1.00 billion, a P/E ratio of -395.50 and a beta of 0.97. The firm’s 50-day simple moving average is $22.04 and its 200 day simple moving average is $20.41.

Hedge Funds Weigh In On Radware

A number of institutional investors have recently bought and sold shares of RDWR. Renaissance Technologies LLC raised its position in shares of Radware by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock valued at $31,917,000 after purchasing an additional 193,689 shares during the period. Acadian Asset Management LLC raised its holdings in Radware by 7.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock valued at $31,577,000 after acquiring an additional 115,089 shares during the period. Rice Hall James & Associates LLC lifted its position in Radware by 6.4% during the third quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock worth $20,757,000 after acquiring an additional 56,116 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Radware by 159.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 587,570 shares of the information technology services provider’s stock worth $13,091,000 after acquiring an additional 360,710 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Radware by 2,346.9% during the second quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock worth $6,944,000 after purchasing an additional 365,131 shares during the period. Institutional investors and hedge funds own 73.12% of the company’s stock.

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.