Riverbed Technology (NASDAQ:RVBD) Gaining Share in WAN Optimization Market

Citing demand for WAN optimization as strong and Riverbed Technology's (NASDAQ:RVBD) share growing in it, Barclays (NYSE:BCS) sees revenue growing over the next couple of years, and raised their EPS estimate for 2011.

Barclays says, "Riverbed is continuing to gain share in a healthy WAN optimization market: We believe WAN optimization demand remains robust...We lift 2011 EPS materially and introduce 2012: We lift and introduce our 2011 and 2012 revenue growth assumptions from 25% to 31%/25% respectively. This drives 2011 split-adjusted EPS of $0.84 and 2012 EPS of $1.09. Less conservative assumptions - 38% and 32% sales growth and a 35% operating margin - yield 2012 EPS of $1.30...We expect momentum to continue for this beat-and-raise story."

Barclays maintains an "Overweight" on Riverbed Technology, which closed level at $35.16 on Wednesday. Barclays has a price target of $40 on them.