Lazard Capital Markets Reiterates Buy Rating for Riverbed Technology (RVBD)
Riverbed Technology (NASDAQ:RVBD)‘s stock had its “buy” rating reaffirmed by stock analysts at Lazard Capital Markets in a report issued on Tuesday, AmericanBankingNews.com reports. They currently have a $20.00 target price on the stock, down from their previous target price of $21.00. Lazard Capital Markets’ target price points to a potential upside of 39.32% from the company’s current price.
Several other analysts have also 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 analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.91.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 2.40% on Tuesday, hitting $14.70. 5,549,070 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 $15.91 and a 200-day moving average of $15.61. The company has a market cap of $2.415 billion and a P/E ratio of 495.00.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $265.00 million for the quarter, compared to the consensus estimate of $267.42 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 19.7% 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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