Nomura Securities Maintains a 'Neutral' on Riverbed Technology (RVBD); Cutting Numbers After Q1 Review
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Price: $15.16 -2.13%
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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Nomura Securities maintains a 'Neutral' on Riverbed Technology (NASDAQ: RVBD) price target lowered from $28 to $25.
Analyst, Stuart Jeffrey, said, "Cut PT to $25, to reflect the cut to our earnings estimates; cut F12E/F13E/F14E EPS from $1.05/$1.41/$1.69 to $0.98/$1.27/$1.58, respectively. Q1 results were in line with guidance, and Q2 guidance implies that the disruption is set to continue for one more quarter. Lowered guidance has raised concerns that the market is maturing and slowing. We do not expect margins to be a material upside driver of earnings in 2012, as we believe management is more focused on driving revenue growth than preserving margins. We expect the stock to remain range-bound in the low to mid $20 range for the foreseeable future."
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 $27.86 yesterday, with a 52 week range of $18.33-$41.83.
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Analyst, Stuart Jeffrey, said, "Cut PT to $25, to reflect the cut to our earnings estimates; cut F12E/F13E/F14E EPS from $1.05/$1.41/$1.69 to $0.98/$1.27/$1.58, respectively. Q1 results were in line with guidance, and Q2 guidance implies that the disruption is set to continue for one more quarter. Lowered guidance has raised concerns that the market is maturing and slowing. We do not expect margins to be a material upside driver of earnings in 2012, as we believe management is more focused on driving revenue growth than preserving margins. We expect the stock to remain range-bound in the low to mid $20 range for the foreseeable future."
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 $27.86 yesterday, with a 52 week range of $18.33-$41.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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