Stock analysts at RBC Capital boosted their price target on shares of Riverbed Technology (NASDAQ:RVBD) from $6.00 to $7.00 in a report issued on Friday, Analyst Ratings Network.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential downside of 60.09% from the stock’s previous close.
RVBD has been the subject of a number of other recent research reports. Analysts at Needham & Company cut their price target on shares of Riverbed Technology from $20.00 to $19.00 in a research note to investors on Tuesday, October 29th. They now have a “strong-buy” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Riverbed Technology from $21.00 to $18.00 in a research note to investors on Tuesday, October 29th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated an “underperform” rating on shares of Riverbed Technology in a research note to investors on Tuesday, October 29th. They now have a $12.00 price target on the stock, down previously from $14.00. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Riverbed Technology presently has an average rating of “Hold” and an average target price of $16.21.
In other Riverbed Technology news, Director Michael R. Kourey sold 10,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $15.12, for a total transaction of $151,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Riverbed Technology (NASDAQ:RVBD) traded up 16.08% during mid-day trading on Friday, hitting $17.54. The stock had a trading volume of 21,587,372 shares. Riverbed Technology has a 52 week low of $13.77 and a 52 week high of $21.39. The stock’s 50-day moving average is $14.74 and its 200-day moving average is $15.56. The company’s market cap is $2.858 billion. Riverbed Technology also was the recipient of some unusual options trading activity on Friday. Stock traders bought 24,209 call options on the stock. This represents an increase of 358% compared to the average daily volume of 5,291 call options.
Riverbed Technology (NASDAQ:RVBD) last issued its quarterly earnings data 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 in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts predict that Riverbed Technology will post $0.97 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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