Nomura Securities Maintains a 'Neutral' on Riverbed Technology (RVBD); 4Q Review

Nomura Securities maintains a 'Neutral' on Riverbed Technology (NASDAQ: RVBD) price target cut $1 to $28.

Analyst, Stuart Jeffrey, "Riverbed’s disappointing Q1 outlook overshadowed the slightly better Q4 results. RVBD is guiding to sequential sales declines of (-8%) to (-10%); well below our prior -1.3% QoQ estimate. It explains the disappointing outlook to a pause in demand caused by new product introductions. The pause in spend is expected to be temporary, with demand returning soon as indicated by the company's full year sales growth forecast of 17%-20%. We’ve reduced our revenue growth expectations to 17.6% from our prior 22% outlook. EPS is reduced by 5c to $1.05, but lower tax rate aided estimates by 5c."

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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