Traders Purchase Large Volume of Riverbed Technology Call Options (RVBD)
Shares of Riverbed Technology (NASDAQ:RVBD) saw some unusual options trading activity on Friday. Investors purchased 24,461 call options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 1,041% compared to the typical volume of 2,143 call options.
A number of analysts have recently weighed in on RVBD shares. Analysts at RBC Capital upgraded shares of Riverbed Technology (NASDAQ:RVBD) from an “underperform” rating to a “sector perform” rating in a research note to investors on Thursday. They now have a $16.00 price target on the stock, up previously from $13.00. They noted that the move was a valuation call. Finally, analysts at Deutsche Bank reiterated a “sell” rating on shares of Riverbed Technology (NASDAQ:RVBD) in a research note to investors on Thursday, September 12th. They now have a $11.00 price target on the stock. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.62.
Riverbed Technology (NASDAQ:RVBD) traded up 6.04% during mid-day trading on Friday, hitting $15.27. 4,905,172 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 has a 50-day moving average of $15.47 and a 200-day moving average of $15.5. The company has a market cap of $2.508 billion and a price-to-earnings ratio of 496.55.
Riverbed Technology (NASDAQ:RVBD) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter 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.
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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