NEW YORK ( TheStreet) -- Earnings season moves into full force with technology giants and market-moving companies reporting next week.
There are over 100 companies reporting earnings this week that trade over one million shares a day. For traders and investors alike, this is one of the biggest weeks of the quarter.
Background: Riverbed Technology provides solutions to the fundamental problems associated with information technology performance across wide area networks in the United States and internationally. The company was founded in 2002 and is headquartered in San Francisco. Riverbed trades an average of four million shares per day with a market cap of $3.4 billion.
52-Week Range: $13.30 to $30.73
Book Value: $4.63
Price To Book: 4.68
Third-quarter earnings are highly anticipated by hopeful investors expecting reported growth report after the market closes on Thursday. The analysts' mean appraisal is presently 25 cents a share, a gain of 1 cent (4%) from 24 cents during the corresponding quarter last year.
The lowest analyst estimate for this report is 25 cents per share, and the highest is 26 cents per share. If earnings come in as expected or higher, this quarter will not only beat the same period last year, but also last quarter.
Despite the earnings growth, analysts are taking a tepid stand with Riverbed. A hold can mean anything, but you may be well advised to consider holds as (somewhat) glorified sell ratings. It appears 23 out of 37 now rate the company a hold, while 14 recommend buying and none of the analysts recommend selling. The stock appreciated 8.6% in the last year, and the average analyst target price for Riverbed is $21.75.
The price chart illustrates analyst reluctance in endorsing the company. I like the company, but I'm not overly excited about this quarter's earnings. Listening carefully to guidance, and expect management's expectations to lead share prices for the next couple weeks.
The current proportion sold short based on the float is 6.5%, and I find this much interest by short sellers worth looking at in more depth.