Establishing a position in Riverbed Technology - Todd Harrison

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Establishing a position in Riverbed Technology
Apr 24, 2009 08:20 PM UTC

Todd Harrison

Return	Risk
+11.59%	MID

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Symbol	Sentiment	Start	Return	Closed
RVBD		04/24/09	-0.51%	05/15/09

Via BloggingStocks:

Filed under: Earnings reports, Stocks to Buy, Earnings transcripts

This post was written by Minyanville contributor Smita Sadana

I have established a small trading position in Riverbed Technology (NASDAQ: RVBD), after it announced earnings. Here's why:

Earnings beat expectations. RVBD reported EPS of 13 cents vs. consensus of 10 cents. The revenue number was also higher.

Several brokers have enthusiastically raised their targets for RVBD. Lazard Capital raised the price target from $14 to $17, and Wedbush and William Blair upgraded the stock.

The percentage of float shorted was 21% at the beginning of April. This stands out as the most interesting piece of data for a trader like me. Given the ignition provided by the good earnings announcement, wouldn't the shorts rush to cover?

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Establishing a position in Riverbed Technology originally appeared on BloggingStocks on Fri, 24 Apr 2009 15:20:00 EST. Please see our terms for use of feeds.

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