Riverbed Technology (NASDAQ:RVBD)‘s stock had its “underperform” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Tuesday, AnalystRatings.Net reports. They currently have a $12.00 price target on the stock, down from their previous price target of $14.00. Jefferies Group’s price objective suggests a potential downside of 16.41% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Riverbed Technology in a research note to investors on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Riverbed Technology has an average rating of “Hold” and a consensus price target of $16.76.
Riverbed Technology (NASDAQ:RVBD) traded up 2.82% during mid-day trading on Tuesday, hitting $14.76. 6,558,474 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 $2.424 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. Analysts expect that Riverbed Technology will post $0.95 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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