Riverbed Technology Inc. Hits New 52-Week High at $20.62 (RVBD)
Shares of Riverbed Technology (NASDAQ:RVBD) hit a new 52-week high on Friday, AR Network reports. The company traded as high as $20.62 and last traded at $20.50, with a volume of 1,237,720 shares trading hands. The stock had previously closed at $20.40.
Several analysts have recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Riverbed Technology from $16.50 to $20.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given 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 has a 52 week low of $13.77 and a 52 week high of $20.56. The stock has a 50-day moving average of $17.91 and a 200-day moving average of $16.34. The company’s market cap is $3.325 billion.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.28 earnings per share. Riverbed Technology’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Riverbed Technology will post $0.99 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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