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Riverbed Technology In Retrospect: Shares Up 0.4% Since Upgraded One Week Ago (RVBD)

Published on Tue, 02/26/2013 - 10:11
By Mallory Stone

Needham upgraded Riverbed Technology (NASDAQ:RVBD) from Buy to Strong Buy a week ago. Riverbed Technology stocks closed at $15.90, a 0.4% gain over the course of one week.

Riverbed Technology has overhead space with shares priced $15.92, or 25.6% below the average consensus analyst price target of $21.39. The stock should find initial resistance at its 200-day moving average (MA) of $18.70 and further resistance at its 50-day MA of $18.88.

In the past 52 weeks, shares of Riverbed Technology have traded between a low of $13.30 and a high of $41.83 and are now at $15.92, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

Riverbed Technology, Inc. manufactures and markets appliances used to connect computers in wide area networks.

By Mallory Stone
mstone@fnno.com

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