Riverbed Technology Lowered to Neutral at Sterne Agee (RVBD)
Riverbed Technology (NASDAQ: RVBD) was downgraded by equities researchers at Sterne Agee from a “buy” rating to a “neutral” rating in a report issued on Thursday, ARN reports.
The analysts wrote, “With the announcement of the CFO’s resignation, effective April 29, there are simply too many moving pieces with the story as the company digests its single largest acquisition on record with OPNET. We remain constructive on the longer-term assumed synergies with the deal but it will likely take two to three quarters to regain investor confidence.”
Riverbed Technology (NASDAQ: RVBD) traded down 2.44% on Thursday, hitting $14.59. Riverbed Technology has a 1-year low of $13.30 and a 1-year high of $28.29. The stock’s 50-day moving average is currently $15.32. The company has a market cap of $2.383 billion and a price-to-earnings ratio of 45.32.
Riverbed Technology (NASDAQ: RVBD) last issued its quarterly earnings data on Thursday, February 7th. The company reported $0.29 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.29. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $233.91 million. During the same quarter last year, the company posted $0.25 earnings per share. Riverbed Technology’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Riverbed Technology will post $1.12 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on RVBD. Analysts at TheStreet downgraded shares of Riverbed Technology from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, February 27th. Separately, analysts at Lake Street Capital initiated coverage on shares of Riverbed Technology in a research note to investors on Tuesday, February 19th. They set a “buy” rating and a $20.00 price target on the stock. Finally, analysts at Needham & Company upgraded shares of Riverbed Technology from a “buy” rating to a “strong-buy” rating in a research note to investors on Tuesday, February 19th. They now have a $27.00 price target on the stock.
One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.26.
Riverbed Technology, Inc. (NASDAQ: RVBD) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs).
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