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

Radware Ltd. (NASDAQ:RDWR)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.47 and traded as high as $22.75. Radware shares last traded at $22.31, with a volume of 119,365 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RDWR. Barclays lifted their price target on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC raised shares of Radware to a “hold” rating in a research report on Friday, November 1st.

Radware Stock Performance

The stock has a market cap of $939.01 million, a price-to-earnings ratio of -372.60 and a beta of 0.97. The stock has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $21.51.

Institutional Investors Weigh In On Radware

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Radware by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 328,979 shares of the information technology services provider’s stock valued at $7,330,000 after acquiring an additional 42,617 shares during the period. Tidal Investments LLC increased its holdings in Radware by 4.6% during the third quarter. Tidal Investments LLC now owns 26,541 shares of the information technology services provider’s stock worth $591,000 after buying an additional 1,173 shares during the last quarter. Barclays PLC grew its holdings in Radware by 137.4% during the third quarter. Barclays PLC now owns 15,743 shares of the information technology services provider’s stock valued at $350,000 after purchasing an additional 9,112 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Radware in the third quarter valued at approximately $1,117,000. Finally, State Street Corp lifted its position in shares of Radware by 4.2% during the third quarter. State Street Corp now owns 586,660 shares of the information technology services provider’s stock worth $13,071,000 after acquiring an additional 23,725 shares in the last quarter. 73.12% of the stock is owned by institutional investors.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.