Riverbed Technology Now Covered by Analysts at Morgan Stanley (RVBD)
Riverbed Technology (NASDAQ:RVBD) opened at 20.54 on Wednesday. Riverbed Technology has a 1-year low of $13.77 and a 1-year high of $22.76. The stock has a 50-day moving average of $19.81 and a 200-day moving average of $19.45. The company’s market cap is $3.298 billion.
Riverbed Technology (NASDAQ:RVBD) last announced its earnings results on Tuesday, April 29th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.01. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $265.79 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Riverbed Technology will post $1.17 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Riverbed Technology from $20.00 to $21.00 in a research note on Wednesday, April 30th. Separately, analysts at RBC Capital raised their price target on shares of Riverbed Technology from $19.00 to $20.00 in a research note on Wednesday, April 30th. They now have a “sector perform” rating on the stock. Finally, analysts at Piper Jaffray raised their price target on shares of Riverbed Technology from $19.00 to $20.00 in a research note on Wednesday, April 30th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. Riverbed Technology has an average rating of “Hold” and an average target price of $18.11.
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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