Deutsche Bank lowered shares of Riverbed Technology (NASDAQ:RVBD) from a hold rating to a sell rating in a research report released on Tuesday morning, TheFlyOnTheWall.com reports. Deutsche Bank currently has $11.00 price objective on the stock.
“We are downgrading RVBD from Hold to Sell; lowering our FY14 est and PT from $14 to $11. Basis for our underweight thesis is our research noting a diminishing value perception for ‘premium-priced’ WAN Opt (designed for an era of congested links and complex client/server apps). Today’s ‘browser based’ apps running on IP/Ethernet offer a cost-competitive alternative to features found in +$10K WAN Opt systems. Riverbed lacks a compelling nextphase growth story in our view (we note muted prospects for Opnet, Granite). We see negative risk/reward at current levels: stock trading at mid-teens consensus rev growth expectation for a directionally slowing core business.,” Deutsche Bank’s analyst commented.
Shares of Riverbed Technology (NASDAQ:RVBD) opened at 15.30 on Tuesday. Riverbed Technology has a 52-week low of $13.83 and a 52-week high of $24.23. The stock’s 50-day moving average is $16.46 and its 200-day moving average is $15.64. The company has a market cap of $2.513 billion and a price-to-earnings ratio of 527.59.
RVBD has been the subject of a number of other recent research reports. Analysts at JMP Securities downgraded shares of Riverbed Technology from an outperform rating to a market perform rating in a research note to investors on Monday. They now have a $19.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Riverbed Technology from $5.50 to $6.50 in a research note to investors on Friday, August 9th. They now have an outperform rating on the stock. Finally, analysts at Oppenheimer upgraded shares of Riverbed Technology from a market perform rating to an outperform rating in a research note to investors on Monday, August 5th. They now have a $20.00 price target on the stock.
Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $17.72.
In other Riverbed Technology news, CEO Jerry Kennelly sold 100,000 shares of Riverbed Technology stock on the open market in a transaction that occured on Friday, August 16th. The stock was sold at an average price of $16.63, for a total transaction of $1,663,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,073,141 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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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