Analysts at BMO Capital Markets raised their price objective on shares of Riverbed Technology (NASDAQ:RVBD) from $5.50 to $6.50 in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential downside of 59.30% from the company’s current price.
A number of other firms have also recently commented on RVBD. 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. Separately, analysts at Wedbush cut their price target on shares of Riverbed Technology from $16.00 to $15.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Riverbed Technology from $14.00 to $13.00 in a research note to investors on Thursday, August 1st.
One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.81.
Shares of Riverbed Technology (NASDAQ:RVBD) opened at 15.97 on Friday. 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 currently $16.29. The company has a market cap of $2.623 billion and a P/E ratio of 550.69.
Riverbed Technology (NASDAQ:RVBD) last announced its earnings results on Tuesday, July 30th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Analysts expect that Riverbed Technology will post $0.95 EPS for the current fiscal year.
In other Riverbed Technology news, Director Christopher Schaepe sold 131,466 shares of Riverbed Technology stock on the open market in a transaction dated Friday, August 2nd. The stock was sold at an average price of $15.37, for a total value of $2,020,632.42. Following the sale, the director now directly owns 63,112 shares of the company’s stock. The transaction 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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