MKM Partners Q2 Review on Riverbed Technology (RVBD): Taking Wait-and-See Approach, Despite New Products
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Price: $15.00 -1.06%
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade RVBD Now!
MKM Partners reiterates a 'Neutral' on Riverbed Technology (NASDAQ: RVBD) price target of $15.50 (from $16.50).
Analyst, Michael Genovese, said, "While 2Q12 results could be in line with our at-consensus estimates of $194.4mn/$0.21, we expect management will lower the full-year 2012 revenue growth guidance to 10% from 15%. Given that consensus 2012 revenue growth estimate of 12.3% is already below guidance, a cut to the outlook should not be that surprising. Nevertheless, we remain cautious on RVBD going into earnings due to the magnitude of the expected forecast reductions."
Genovese sees the WAN-OPT market growing at 10%, a significant deceleration from prior years. His firm is taking a wait-and-see approach, considering Riverbed has a lot of interesting technology and new products for WAN-OPT. He lowers FY12 EPS estimate from $0.91 to $0.88 and FY13 from $1.10 to $1.04.
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 $15.29 yesterday, with a 52 week range of $13.30-$32.67.
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Analyst, Michael Genovese, said, "While 2Q12 results could be in line with our at-consensus estimates of $194.4mn/$0.21, we expect management will lower the full-year 2012 revenue growth guidance to 10% from 15%. Given that consensus 2012 revenue growth estimate of 12.3% is already below guidance, a cut to the outlook should not be that surprising. Nevertheless, we remain cautious on RVBD going into earnings due to the magnitude of the expected forecast reductions."
Genovese sees the WAN-OPT market growing at 10%, a significant deceleration from prior years. His firm is taking a wait-and-see approach, considering Riverbed has a lot of interesting technology and new products for WAN-OPT. He lowers FY12 EPS estimate from $0.91 to $0.88 and FY13 from $1.10 to $1.04.
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 $15.29 yesterday, with a 52 week range of $13.30-$32.67.
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