Riverbed Technology Inc. Hits New 52-Week Low at $13.77 (RVBD)
Shares of Riverbed Technology (NASDAQ:RVBD) hit a new 52-week low during trading hours on Friday, AnalystRatings.NET reports. The company traded as low as $13.77 and last traded at $13.82, with a volume of 3,189,964 shares trading hands. The stock had previously closed at $14.12.
Several analysts have recently commented on the stock. Analysts at RBC Capital upgraded shares of Riverbed Technology from an “underperform” rating to a “sector perform” rating in a research note to investors on Thursday, October 3rd. 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 in a research note to investors on Thursday, September 12th. They now have a $11.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.95.
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 $15.91 and its 200-day moving average is $15.61. The company has a market cap of $2.282 billion and a P/E ratio of 486.90. Riverbed Technology also saw unusually large options trading activity on Friday. Stock traders purchased 16,233 put options on the company. This represents an increase of 329% compared to the average volume of 3,788 put options.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters 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.
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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