SunTrust (STI) Analysts Downgrade Riverbed Technology, Inc. (RVBD) Shares to "Neutral"
Friday, July 01, 2021 9:39 AM

Equities research analysts at SunTrust (NYSE: STI) downgraded shares of Riverbed Technology, Inc. (NASDAQ: RVBD) from a "buy" rating to a "neutral" rating in a research note to investors on Friday.

Separately, analysts at Oppenheimer (NYSE: OPY) reiterated an "outperform" rating on shares of Riverbed Technology, Inc. in a research note to investors on Wednesday. Also, analysts at Sterne Agee initiated coverage on shares of Riverbed Technology, Inc. in a research note to investors on Tuesday, June 21st. They set a "buy" rating and a $41.00 price target on the stock.

Shares of Riverbed Technology, Inc. opened at 39.59 on Monday. Riverbed Technology, Inc. has a 52 week low of $12.725 and a 52 week high of $44.70. The stock's 50-day moving average is $36.04 and its 200-day moving average is $36.80. The company has a market cap of $6.077 billion and a price-to-earnings ratio of 137.47.

Riverbed Technology, Inc. last announced its quarterly results on Tuesday, April 19th. The company reported $0.20 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.19 EPS by $0.01. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 45.50% on a year-over-year basis. On average, analysts predict that Riverbed Technology, Inc. will post $0.23 EPS next quarter.

Riverbed Technology, Inc. (Riverbed) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs). The Company’s Steelhead products enable its customers to improve the performance of their applications and access to their data across WANs, typically increasing transmission speeds by 5 to 50 times and in some cases by up to 100 times. Riverbed sells its products and support to end users directly through its sales force and indirectly through channel partners, including value-added distributors (VADs), value-added resellers (VARs), systems integrators and service providers. It operates internationally primarily through a number of wholly owned subsidiaries that are designed primarily to support its sales, marketing and support activities outside the United States. In November 2010, the Company acquired Global Protocols LLC.

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