Traders Purchase Large Volume of Put Options on Riverbed Technology (RVBD)
Riverbed Technology (NASDAQ:RVBD) was the recipient of unusually large options trading on Friday. Investors purchased 16,233 put options on the stock, AmericanBankingNews.com reports. This represents an increase of 329% compared to the typical volume of 3,788 put options.
RVBD has been the subject of a number of recent research reports. 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 assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.95.
Riverbed Technology (NASDAQ:RVBD) traded down 1.63% on Friday, hitting $13.89. 8,021,489 shares of the company’s stock traded hands. Riverbed Technology has a one year low of $13.83 and a one year high of $24.23. The stock has a 50-day moving average of $15.91 and a 200-day moving average of $15.61. The company has a market cap of $2.282 billion and a price-to-earnings ratio of 486.90.
Riverbed Technology (NASDAQ:RVBD) last released its earnings data 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 last year, the company posted $0.23 earnings per share. Riverbed Technology’s revenue was up 25.9% compared to the same quarter last 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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