Radware (NASDAQ:RDWR) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Radware Ltd. (NASDAQ:RDWR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.83 and traded as high as $27.15. Radware shares last traded at $27.02, with a volume of 157,771 shares.

Analysts Set New Price Targets

RDWR has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Jefferies Financial Group set a $25.00 price objective on Radware in a research report on Tuesday, December 16th. Finally, Wall Street Zen lowered Radware from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Radware Price Performance

The company has a fifty day moving average of $25.21 and a 200 day moving average of $24.84. The stock has a market cap of $1.17 billion, a P/E ratio of 60.45 and a beta of 0.87.

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

Radware declared that its board has authorized a stock buyback plan on Friday, February 13th that allows the company to buyback $80.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 7.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Radware

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership grew its position 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 worth $82,920,000 after buying an additional 431,572 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Radware by 27.2% during the 3rd quarter. New York State Common Retirement Fund now owns 274,362 shares of the information technology services provider’s stock valued at $7,268,000 after acquiring an additional 58,730 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Radware by 5.4% during the 2nd quarter. First Trust Advisors LP now owns 1,172,054 shares of the information technology services provider’s stock worth $34,505,000 after acquiring an additional 59,814 shares in the last quarter. Semanteon Capital Management LP bought a new stake in shares of Radware during the 3rd quarter worth $562,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Radware by 1.9% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 46,146 shares of the information technology services provider’s stock worth $1,222,000 after acquiring an additional 844 shares during the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.

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.