Needham & Company Reiterates a 'Strong Buy' on Riverbed Technology (RVBD); Strongest Pipeline In Company’s History

July 25, 2012 10:33 AM EDT
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Price: $20.99 --0%

Rating Summary:
    8 Buy, 33 Hold, 0 Sell

Rating Trend: = Flat

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    Up: 7 | Down: 8 | New: 1
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Needham & Company reiterates a 'Strong Buy' on Riverbed Technology (NASDAQ: RVBD) price target of $25.00.

Analyst, Alex Henderson, said, "Riverbed came in ahead of forecast in 2Q, offered solid 3Q guidance, was upbeat on the conference call, and nailed down a meaningful deal with Juniper...Riverbed’s management expressed confidence in their business and noted a number of improving metrics such as shortening deal lead times and improving closure rates. Management noted they have the deepest pipeline of deals in the company’s history. The internal dynamics at Riverbed are improving meaningfully; however, the macro headwinds are stiffening. Riverbed noted the erosion in overall conditions in June and continuing into the July time frame."

For an analyst ratings summary and ratings history on Riverbed Technology click here. For more ratings news on Riverbed Technology click here.

Shares of Riverbed Technology closed at $14.55 yesterday.

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