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

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RDWR. Barclays increased 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 report on Friday, November 1st. Finally, StockNews.com upgraded Radware from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st.

Radware Price Performance

The firm has a fifty day simple moving average of $22.15 and a 200-day simple moving average of $20.45. The firm has a market cap of $985.51 million, a P/E ratio of -391.10 and a beta of 0.97.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 193,689 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Radware by 7.1% during 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 purchasing an additional 115,089 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Radware by 6.4% during 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. increased its holdings in 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 buying an additional 360,710 shares during the last quarter. Finally, Millennium Management LLC raised its position in Radware by 2,346.9% in the second quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock worth $6,944,000 after acquiring an additional 365,131 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.