Analysts at Cowen and Company lowered their target price on shares of Riverbed Technology (NASDAQ:RVBD) from $21.00 to $18.00 in a research report issued to clients and investors on Tuesday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective suggests a potential upside of 22.45% from the company’s current price.
Riverbed Technology (NASDAQ:RVBD) traded up 2.40% on Tuesday, hitting $14.70. 8,950,701 shares of the company’s stock traded hands. Riverbed Technology has a 1-year low of $13.83 and a 1-year high of $24.23. The stock has a 50-day moving average of $15.91 and a 200-day moving average of $15.61. The company has a market cap of $2.415 billion and a P/E ratio of 495.00.
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 last year, the company posted $0.28 earnings per share. Riverbed Technology’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Riverbed Technology will post $0.95 earnings per share for the current fiscal year.
A number of other firms have also recently commented on RVBD. Analysts at Jefferies Group reiterated an “underperform” rating on shares of Riverbed Technology in a research note to investors on Tuesday. They now have a $12.00 price target on the stock, down previously from $14.00. Separately, analysts at Lazard Capital Markets reiterated a “buy” rating on shares of Riverbed Technology in a research note to investors on Tuesday. They now have a $20.00 price target on the stock, down previously from $21.00. Finally, analysts at RBC Capital upgraded shares of Riverbed Technology from an “underperform” rating to a “sector perform” rating in a research note to investors on Thursday, October 3rd. They now have a $16.00 price target on the stock, up previously from $13.00. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.77.
Riverbed Technology, Inc (NASDAQ:RVBD) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.