Research analysts at FBR Capital Markets cut their price target on shares of Riverbed Technology (NASDAQ:RVBD) from $16.00 to $15.00 in a report released on Thursday, Stock Ratings Network reports. FBR Capital Markets’ target price indicates a potential downside of 3.35% from the stock’s previous close.
Shares of Riverbed Technology (NASDAQ:RVBD) traded down 0.74% during mid-day trading on Thursday, hitting $15.52. Riverbed Technology has a 52 week low of $13.83 and a 52 week high of $17.94. The stock’s 50-day moving average is currently $16.37. The company has a market cap of $2.536 billion and a P/E ratio of 64.88.
Riverbed Technology (NASDAQ:RVBD) last released its earnings data on Tuesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $257.72 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts predict that Riverbed Technology will post $0.96 earnings per share for the current fiscal year.
RVBD has been the subject of a number of other recent research reports. Analysts at FBN Securities cut their price target on shares of Riverbed Technology from $17.00 to $16.00 in a research note to investors on Thursday. Separately, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Riverbed Technology in a research note to investors on Wednesday. They now have a $21.00 price target on the stock. Finally, analysts at UBS AG cut their price target on shares of Riverbed Technology from $15.50 to $15.00 in a research note to investors on Wednesday. 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, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.03.
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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