Riverbed Technology Stock Rating Upgraded by Zacks (RVBD)
Riverbed Technology (NASDAQ:RVBD) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports. The firm currently has a $19.50 price objective on the stock. Zacks‘ price objective suggests a potential upside of 7.85% from the stock’s previous close.
A number of other firms have also recently commented on RVBD. Analysts at Citigroup Inc. initiated coverage on shares of Riverbed Technology in a research note to investors on Tuesday, December 10th. They set a “buy” rating and a $21.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Riverbed Technology from $15.00 to $16.50 in a research note to investors on Tuesday, November 19th. They now have a “neutral” rating on the stock. Finally, analysts at Wunderlich reiterated a “hold” rating on shares of Riverbed Technology in a research note to investors on Tuesday, November 19th. They now have a $18.00 price target on the stock, up previously from $17.00. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.23.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 0.22% on Wednesday, hitting $18.08. The stock had a trading volume of 1,039,454 shares. Riverbed Technology has a 1-year low of $13.77 and a 1-year high of $21.39. The stock’s 50-day moving average is $17.42 and its 200-day moving average is $16.08. The company’s market cap is $2.927 billion.
Riverbed Technology (NASDAQ:RVBD) last issued its quarterly 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 $0.97 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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