MKM Partners Increases Riverbed Technology Price Target to $20.00 (RVBD)
Analysts at MKM Partners hoisted their price objective on shares of Riverbed Technology (NASDAQ:RVBD) from $16.50 to $20.00 in a research report issued to clients and investors on Thursday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price objective indicates a potential downside of 0.55% from the stock’s previous close.
Riverbed Technology (NASDAQ:RVBD) last announced its earnings results 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.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. initiated coverage on shares of Riverbed Technology in a research note to investors on Thursday. They set a “neutral” rating and a $22.00 price target on the stock. Separately, analysts at Cowen and Company downgraded shares of Riverbed Technology from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, January 9th. Finally, 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, January 9th. They now have a $19.00 price target on the stock, up previously from $14.00. One analyst has rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.44.
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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