Riverbed Technology (NASDAQ:RVBD) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Stock Ratings Network.com reports. The firm currently has a $7.00 price objective on the stock, up from their previous price objective of $6.50. TD Securities’ price objective would indicate a potential downside of 60.09% from the company’s current price.
Riverbed Technology (NASDAQ:RVBD) traded up 16.08% on Friday, hitting $17.54. The stock had a trading volume of 21,584,272 shares. Riverbed Technology has a 52-week low of $13.77 and a 52-week high of $21.39. The stock has a 50-day moving average of $14.74 and a 200-day moving average of $15.56. The company’s market cap is $2.858 billion.
Riverbed Technology (NASDAQ:RVBD) last announced its earnings results 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 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. On average, analysts predict that Riverbed Technology will post $0.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. They now have a “sector perform” rating on the stock. Separately, 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. Finally, analysts at Cowen and Company cut their price target on shares of Riverbed Technology from $21.00 to $18.00 in a research note to investors on Tuesday, October 29th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Riverbed Technology has a consensus rating of “Hold” and an average target price of $16.21.
In other Riverbed Technology news, Director Michael R. Kourey unloaded 10,000 shares of the stock on the open market in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $15.12, for a total value of $151,200.00. The sale was disclosed in a legal filing with the SEC, which is available at 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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