Riverbed Technology Stock Rating Reaffirmed by National Bank Financial (RVBD)
Riverbed Technology (NASDAQ:RVBD)‘s stock had its “outperform” rating restated by National Bank Financial in a research note issued on Wednesday, American Banking News reports.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 0.63% during mid-day trading on Wednesday, hitting $20.89. The stock had a trading volume of 1,476,576 shares. Riverbed Technology has a 52 week low of $13.77 and a 52 week high of $21.01. The stock has a 50-day moving average of $18.12 and a 200-day moving average of $16.4. The company’s market cap is $3.382 billion.
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. Analysts expect that Riverbed Technology will post $0.99 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about 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, January 16th. 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, January 16th. 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 analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and eight have given a buy rating to the company’s stock. Riverbed Technology presently has a consensus rating of “Hold” and an average price target of $16.85.
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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