The performance of Riverbed Technology (NASDAQ:RVBD) in their latest quarter was extraordinary; in its geographic scope, as well as in all its verticals.
FBR says, "Last night (Thursday), Riverbed delivered a very good December quarter. While we and most of the Street were expecting a very good quarter, the magnitude of Riverbed's strength across all geographies and verticals was an eye-popping performance on the all-important product revenue front (52% year-over-year growth), a positive dynamic that reinforces our confidence around the company’s impressive growth potential/greenfield opportunity.
"For 1Q11 (March) we are raising our total revenue and pro forma EPS estimates to $160.4 million and $0.18, versus our prior estimates of $152.9 million and $0.15. For FY11, we are increasing our revenue and pro forma EPS estimates to $714.9 million and $0.84, versus our prior estimates of $678.0 million and $0.72. For FY12, we are increasing our revenue and pro forma EPS estimates to $878.2 million and $1.12, versus our prior estimates of $801.7 million and $0.89."
FBR maintains an "Outperform" on Riverbed Technology (RVBD), which closed Friday at $35.53, up $0.62, or 1.78 percent. FBR raised their price target on Riverbed from $41 to $42.
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