Auriga Maintains a 'Hold' on Riverbed Technology (RVBD); Sidelined on Product Transition Issues

Auriga maintains a 'Hold' on Riverbed Technology (NASDAQ: RVBD) price target lowered from $29 to $26.

Auriga analyst says, "Product transition in a seasonally soft quarter was listed as the primary reason for the soft guide; RVBD expects growth to accelerate there-after to lead to 17%-20% annual growth. While a revenue decline in the midst of a product transition is not surprising, we take a cautious view on the longer-term growth prospects of the company as we see WAN Optimization market slowing down, competition from Cisco (Nasdaq: CSCO)(Buy) heating up and RVBD likely stretched too thin with multiple product initiatives. We would advise investors to stay on the sidelines until growth momentum from newer initiatives become more evident."

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 $29.92 yesterday.

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