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 Friday . The stock has a 200-day moving average of $24.77 and traded as high as $26.04. Radware shares last traded at $25.76, with a volume of 276,076 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on RDWR shares. Wall Street Zen raised shares of Radware from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

Radware Stock Up 1.1%

The company has a market cap of $1.11 billion, a PE ratio of 57.25 and a beta of 0.87. The firm’s fifty day simple moving average is $25.47 and its 200-day simple moving average is $24.76.

Radware (NASDAQ:RDWR) last announced 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. Radware had a net margin of 6.71% and a return on equity of 7.21%. The company had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.65 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that Radware Ltd. will post 0.28 earnings per share for the current year.

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

Institutional Trading of Radware

Several institutional investors and hedge funds have recently modified their holdings of RDWR. Farther Finance Advisors LLC lifted its stake in shares of Radware by 3,178.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,176 shares during the period. Simplex Trading LLC lifted its stake in shares of Radware by 51.4% during the fourth quarter. Simplex Trading LLC now owns 1,544 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 524 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Radware by 47.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 550 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Radware during the fourth quarter valued at approximately $49,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Radware by 200.9% during the third quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider’s stock valued at $62,000 after buying an additional 1,563 shares during the period. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Radware Company Profile

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.