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

Radware Ltd. (NASDAQ:RDWR) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $24.76 and last traded at $24.60, with a volume of 263000 shares. The stock had previously closed at $23.76.

Analyst Ratings Changes

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

Radware Stock Up 3.2 %

The firm has a market cap of $1.03 billion, a PE ratio of -394.27 and a beta of 0.97. The firm’s fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $20.89.

Hedge Funds Weigh In On Radware

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of Radware in the third quarter worth $51,000. Point72 Asset Management L.P. purchased a new position in shares of Radware in the second quarter worth $120,000. Van ECK Associates Corp lifted its holdings in shares of Radware by 16.4% in the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock worth $167,000 after buying an additional 1,291 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Radware in the second quarter worth $169,000. Finally, MQS Management LLC purchased a new position in shares of Radware in the second quarter worth $234,000. Hedge funds and other institutional investors own 73.12% of the company’s stock.

About Radware

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.