Radware (NASDAQ:RDWR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Radware Ltd. (NASDAQ:RDWR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

Radware Stock Performance

The firm has a 50 day simple moving average of $24.75 and a two-hundred day simple moving average of $24.77. The stock has a market cap of $1.07 billion, a P/E ratio of 55.80 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, topping 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 company had revenue of $80.25 million during the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Radware Ltd. will post 0.28 EPS for the current year.

Radware announced that its Board of Directors has authorized a share repurchase program on Friday, February 13th that authorizes the company to repurchase $80.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Radware

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDWR. Farther Finance Advisors LLC boosted its stake in Radware by 3,178.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 1,176 shares in the last quarter. Simplex Trading LLC raised its stake in shares of Radware by 51.4% in the 4th quarter. Simplex Trading LLC now owns 1,544 shares of the information technology services provider’s stock worth $37,000 after buying an additional 524 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Radware by 47.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider’s stock worth $41,000 after buying an additional 550 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Radware in the fourth quarter valued at $49,000. Finally, Pacer Advisors Inc. boosted its stake in 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 in the last quarter. Institutional investors own 73.12% of the company’s stock.

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.