Radware (NASDAQ:RDWR) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Radware Ltd. (NASDAQ:RDWR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.79 and traded as high as $26.59. Radware shares last traded at $25.88, with a volume of 426,429 shares traded.

Analyst Upgrades and Downgrades

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

Radware Price Performance

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 57.51 and a beta of 0.97. The business has a fifty day moving average of $24.87 and a 200 day moving average of $24.79.

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

Radware announced that its board has initiated a stock repurchase plan on Friday, February 13th that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Radware

Several hedge funds have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of Radware by 28.9% in the fourth quarter. Morgan Stanley now owns 2,619,687 shares of the information technology services provider’s stock worth $63,108,000 after buying an additional 588,064 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of 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 valued at $83,370,000 after acquiring an additional 445,593 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Radware by 16.0% during the 3rd 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. Defiance ETFs LLC bought a new position in shares of Radware in the 4th quarter valued at approximately $9,152,000. Finally, First Trust Advisors LP raised its stake 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 valued at $37,638,000 after acquiring an additional 348,824 shares in the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.

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.