Riverbed Technology Downgraded to Market Perform at Cowen and Company (RVBD)
Riverbed Technology (NASDAQ:RVBD) was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group upgraded shares of Riverbed Technology from an “underperform” rating to a “hold” rating in a research note to investors on Thursday. They now have a $19.00 price target on the stock, up previously from $14.00. Separately, analysts at Lake Street Capital downgraded shares of Riverbed Technology from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Finally, analysts at Needham & Company downgraded shares of Riverbed Technology from a “strong-buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $14.00 price target on the stock, down previously from $18.00. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the stock. Riverbed Technology currently has a consensus rating of “Hold” and an average price target of $16.10.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 0.05% during mid-day trading on Thursday, hitting $19.54. 4,109,386 shares of the company’s stock traded hands. Riverbed Technology has a one year low of $13.77 and a one year high of $20.74. The stock has a 50-day moving average of $17.43 and a 200-day moving average of $16.15. The company’s market cap is $3.164 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. On average, analysts predict that Riverbed Technology will post $0.97 earnings per share 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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