NEW YORK (TheStreet) -- Shares of Riverbed Technology Inc. (RVBD - Get Report) are down -6.00% to $19.13 in early morning trading on Monday after the company revised its 2014 second quarter expectations to below analysts' estimates.
The company, which develops solutions to fundamental problems associated information technology performance, said it is now expecting non-GAAP revenue to be in the range of $264 million to $265 million, compared to its previous guidance between $274 million and $280 million.
Analysts polled by Thomson Reuters were expecting revenue of $277.42 million.
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Riverbed announced earnings for the 2014 second quarter are expected to be at the low end of its previous guidance between 26 cents and 28 cents per diluted share. Analysts were expecting the company to report earnings of 27 cents per share. Separately, TheStreet Ratings team rates RIVERBED TECHNOLOGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate RIVERBED TECHNOLOGY INC (RVBD) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing." RVBD data by YCharts
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