Riverbed Technology Short Interest Down 26.6% in June (RVBD)
Riverbed Technology (NASDAQ:RVBD) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 2,148,828 shares, a decline of 26.6% from the June 13th total of 2,927,467 shares, AmericanBankingNews.com reports. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 1,009,358 shares, the days-to-cover ratio is currently 2.1 days.
Several analysts have recently commented on the stock. Analysts at Buckingham Research initiated coverage on shares of Riverbed Technology in a research note on Wednesday, July 16th. They set a “neutral” rating and a $19.00 price target on the stock. Separately, analysts at Needham & Company LLC reiterated a “hold” rating on shares of Riverbed Technology in a research note on Tuesday, July 15th. Finally, analysts at Gabelli reiterated a “buy” rating on shares of Riverbed Technology in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the stock. Riverbed Technology presently has an average rating of “Hold” and a consensus target price of $18.43.
Riverbed Technology (NASDAQ:RVBD) opened at 18.26 on Tuesday. Riverbed Technology has a 52 week low of $13.77 and a 52 week high of $22.76. The stock’s 50-day moving average is $19.93 and its 200-day moving average is $19.83. The company’s market cap is $2.931 billion.
Riverbed Technology (NASDAQ:RVBD) last released its earnings data on Tuesday, April 29th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.23 earnings per share. Riverbed Technology’s revenue was up 7.8% compared to the same quarter last year. Analysts expect that Riverbed Technology will post $1.14 EPS 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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