Riverbed Technology Price Target Cut to $19.00 (RVBD)
Research analysts at Needham & Company decreased their price objective on shares of Riverbed Technology (NASDAQ:RVBD) from $20.00 to $19.00 in a report released on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “strong-buy” rating on the stock. Needham & Company’s price target would suggest a potential upside of 29.25% from the company’s current price.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 2.40% during mid-day trading on Tuesday, hitting $14.70. The stock had a trading volume of 8,950,701 shares. 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 $2.415 billion and a P/E ratio of 495.00.
Riverbed Technology (NASDAQ:RVBD) last released its earnings data on Monday, October 28th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue 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.
A number of other firms have also recently commented on RVBD. Analysts at Cowen and Company cut their price target on shares of Riverbed Technology from $21.00 to $18.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group reiterated an “underperform” rating on shares of Riverbed Technology in a research note to investors on Tuesday. They now have a $12.00 price target on the stock, down previously from $14.00. Finally, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Riverbed Technology in a research note to investors on Tuesday. They now have a $20.00 price target on the stock, down previously from $21.00. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.77.
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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