Riverbed Technology Price Target Cut to $15.00 (RVBD)
Equities research analysts at MKM Partners reduced their target price on shares of Riverbed Technology (NASDAQ:RVBD) from $16.00 to $15.00 in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price target points to a potential downside of 3.54% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at National Bank Financial cut their price target on shares of Riverbed Technology (NASDAQ:RVBD) from $5.50 to $5.25 in a research note to investors on Thursday, August 22nd. Separately, analysts at Deutsche Bank downgraded shares of Riverbed Technology (NASDAQ:RVBD) from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, August 20th. They now have a $11.00 price target on the stock. Finally, analysts at JMP Securities downgraded shares of Riverbed Technology (NASDAQ:RVBD) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, August 19th. They now have a $19.00 price target on the stock.
Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.52.
Shares of Riverbed Technology (NASDAQ:RVBD) traded down 0.26% on Thursday, hitting $15.51. 410,373 shares of the company’s stock traded hands. Riverbed Technology has a 52-week low of $13.83 and a 52-week high of $24.23. The stock’s 50-day moving average is $16.02 and its 200-day moving average is $15.61. The company has a market cap of $2.548 billion and a P/E ratio of 536.21.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $257.72 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Analysts expect that Riverbed Technology will post $0.95 EPS for the current fiscal year.
In other Riverbed Technology news, CEO Jerry Kennelly unloaded 108,334 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $1,688,927.06. Following the sale, the chief executive officer now directly owns 1,073,141 shares in the company. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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