Aruba Networks Downgraded by Zacks to “Underperform” (ARUN)
Aruba Networks (NASDAQ:ARUN) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, Stock Ratings News reports. They currently have a $17.80 price objective on the stock. Zacks‘ price objective suggests a potential downside of 1.82% from the stock’s previous close.
Shares of Aruba Networks (NASDAQ:ARUN) traded down 3.23% on Tuesday, hitting $18.13. The stock had a trading volume of 2,751,495 shares. Aruba Networks has a one year low of $12.38 and a one year high of $26.78. The stock has a 50-day moving average of $17.4 and a 200-day moving average of $18.00. The company’s market cap is $2.091 billion.
Aruba Networks (NASDAQ:ARUN) last announced its earnings results on Thursday, August 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $149.33 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Aruba Networks will post $0.67 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG reiterated a “hold” rating on shares of Aruba Networks in a research note to investors on Wednesday, October 2nd. They now have a $18.00 price target on the stock. Separately, analysts at Pacific Crest raised their price target on shares of Aruba Networks from $20.00 to $21.00 in a research note to investors on Wednesday, October 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Piper Jaffray Cos. initiated coverage on shares of Aruba Networks in a research note to investors on Tuesday, September 17th. They set an “overweight” rating and a $26.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Aruba Networks has an average rating of “Hold” and an average price target of $25.64.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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