Riverbed Technology (NASDAQ: RVBD) was downgraded by Wedbush to a “neutral” rating in a research note issued on Wednesday, StockRatingsNetwork reports. They currently have a $17.00 price target on the stock, down from their previous price target of $20.00.
The analysts wrote, “We are positive about Riverbed’s dominant competitive positioning in the WAN optimization market, however a deceleration in core growth, potential challenges with the integration of OPNET, high exposure to the government vertical, and recent executive turnover introduce near- to mediumterm risks. We think the story is once again a “show me” stock from the perspective of delivering strong combined company results, before investors again gravitate to the name. We continue to advise investors to remain on the sidelines until there are signs that integration activities begin to yield upside.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich cut their price target on shares of Riverbed Technology from $23.00 to $19.00 in a research note to investors on Wednesday, March 13th. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.26.
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 issued its quarterly earnings data on Thursday, February 7th. The company reported $0.29 EPS for the quarter, meeting the Thomson Reuters 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 last year, the company posted $0.25 earnings per share. Riverbed Technology’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Riverbed Technology will post $1.12 earnings per share 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).