Radware (NASDAQ:RDWR) Stock Crosses Above 200 Day Moving Average – Here’s Why

Radware Ltd. (NASDAQ:RDWR)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.77 and traded as high as $25.53. Radware shares last traded at $25.09, with a volume of 315,912 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Radware from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Radware in a research note on Monday, December 29th. Finally, Jefferies Financial Group set a $25.00 price objective on Radware in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

Radware Stock Performance

The stock’s fifty day simple moving average is $24.71 and its two-hundred day simple moving average is $24.77. The stock has a market capitalization of $1.07 billion, a P/E ratio of 55.76 and a beta of 0.97.

Radware (NASDAQ:RDWR) last released its quarterly earnings results on Wednesday, February 11th. The information technology services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.65 million. Radware had a net margin of 6.71% and a return on equity of 7.21%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Radware announced that its board has approved a share repurchase plan on Friday, February 13th that authorizes the company to repurchase $80.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Radware

Hedge funds have recently made changes to their positions in the stock. Artisan Partners Limited Partnership boosted its holdings in Radware by 16.0% in the third quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock valued at $82,920,000 after acquiring an additional 431,572 shares during the last quarter. Legal & General Group Plc raised its holdings in Radware by 18.7% during the 2nd quarter. Legal & General Group Plc now owns 2,831,851 shares of the information technology services provider’s stock worth $83,370,000 after purchasing an additional 445,593 shares during the last quarter. Morgan Stanley lifted its position in shares of Radware by 28.9% in the 4th quarter. Morgan Stanley now owns 2,619,687 shares of the information technology services provider’s stock worth $63,108,000 after purchasing an additional 588,064 shares during the period. First Trust Advisors LP lifted its position in shares of Radware by 28.7% in the 4th quarter. First Trust Advisors LP now owns 1,562,396 shares of the information technology services provider’s stock worth $37,638,000 after purchasing an additional 348,824 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Radware by 1.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,538,854 shares of the information technology services provider’s stock valued at $40,769,000 after purchasing an additional 24,363 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors.

About Radware

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.