Riverbed Technology (NASDAQ:RVBD) had its price target increased by FBR Capital Markets from $15.00 to $19.00 in a research report sent to investors on Wednesday morning, Analyst Ratings News reports. The firm currently has a market perform rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities upgraded shares of Riverbed Technology from a hold rating to a buy rating in a research note to investors on Friday, November 8th. They now have a $7.00 price target on the stock, up previously from $6.50. Separately, analysts at RBC Capital raised their price target on shares of Riverbed Technology from $6.00 to $7.00 in a research note to investors on Friday, November 8th. They now have a sector perform rating on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $16.35.
In other Riverbed Technology news, Director Michael R. Kourey sold 10,000 shares of Riverbed Technology stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link.
Shares of Riverbed Technology (NASDAQ:RVBD) traded down 6.99% on Wednesday, hitting $17.71. 1,825,470 shares of the company’s stock traded hands. 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 $14.99 and its 200-day moving average is $15.67. The company’s market cap is $2.885 billion.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Riverbed Technology will post $0.97 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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