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Analysts at Buckingham Research initiated coverage on shares of Riverbed Technology (NASDAQ:RVBD) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.

RVBD has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC reiterated a “hold” rating on shares of Riverbed Technology in a research note on Tuesday. Separately, analysts at Gabelli reiterated a “buy” rating on shares of Riverbed Technology in a research note on Tuesday. Finally, analysts at FBN Securities cut their price target on shares of Riverbed Technology from $21.00 to $20.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.40.

Riverbed Technology (NASDAQ:RVBD) traded down 1.03% during mid-day trading on Wednesday, hitting $18.18. 1,324,154 shares of the company’s stock traded hands. Riverbed Technology has a 52 week low of $13.77 and a 52 week high of $22.76. The stock has a 50-day moving average of $20.09 and a 200-day moving average of $19.84. The company’s market cap is $2.919 billion. Riverbed Technology also saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,148,828 shares, a drop of 26.6% from the June 13th total of 2,927,467 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 1,009,358 shares, the days-to-cover ratio is currently 2.1 days.

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 $1.15 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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