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Wunderlich Securities Reiterates Buy Rating, $27 PT on Riverbed Technology

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In a report published Wednesday, Wunderlich Securities reiterated its Buy rating and $27.00 price target on Riverbed Technology (NASDAQ: RVBD).

Wunderlich Securities noted, “According to an 8K filed by the company today Riverbed (RVBD) has received a grand jury subpoena for documents related to federal contract, including a $19 million transaction involving the sales and services by a reseller in 2009. No further information regarding conditions of the investigation or potential magnitude beyond the $19 million deal were given in the filing. We view the issue to material only in the degree that it could taint the company or the pending OPNET (OPNT – NR) acquisition for future federal business or if the investigation reveals wrong doing that goes significantly beyond the $19 magnitude cited in the 8K. Past management commentary given during earnings calls indicates Riverbed had more than $93 million (approximately 13%) in government sales (mostly federal) last year. OPNET reported 29.5% (about $51 million) in government sales for the year ending March.”

Riverbed Technology closed on Tuesday at $18.13.

Latest Ratings for RVBD

DateFirmActionFromTo
Jul 2014JefferiesMaintainsHold
Jul 2014Buckingham ResearchInitiates Coverage onNeutral
Jul 2014OppenheimerDowngradesOutperformPerform

View More Analyst Ratings for RVBD
View the Latest Analyst Ratings

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