Research analysts at Wunderlich cut their target price on shares of Riverbed Technology (NASDAQ: RVBD) from $23.00 to $19.00 in a report released on Wednesday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock.
Shares of Riverbed Technology (NASDAQ: RVBD) traded down 2.44% during mid-day trading on Wednesday, hitting $14.59. Riverbed Technology has a 52 week low of $13.30 and a 52 week high of $28.29. The stock’s 50-day moving average is currently $15.32. The company has a market cap of $2.383 billion and a P/E ratio of 45.32.
Riverbed Technology (NASDAQ: RVBD) last announced its earnings results on Thursday, February 7th. The company reported $0.29 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.29. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $233.91 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that Riverbed Technology will post $1.12 earnings per share for the current fiscal year.
A number of other firms have also recently commented on RVBD. Analysts at Sterne Agee downgraded shares of Riverbed Technology from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, February 28th. Separately, analysts at TheStreet downgraded shares of Riverbed Technology from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, February 27th. Finally, analysts at Lake Street Capital initiated coverage on shares of Riverbed Technology in a research note to investors on Tuesday, February 19th. They set a “buy” rating and a $20.00 price target on the stock.
One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.26.
Riverbed Technology, Inc. (NASDAQ: RVBD) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs).