Deutsche Bank Increases Aruba Networks Price Target to $19.00 (ARUN)
Analysts at Deutsche Bank boosted their target price on shares of Aruba Networks (NASDAQ:ARUN) from $17.00 to $19.00 in a research report issued to clients and investors on Friday, American Banking News reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective would indicate a potential downside of 9.87% from the stock’s previous close.
ARUN has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their EPS on shares of Aruba Networks in a research note on Friday. They now have a “hold” rating and a $22.50 price target on the stock. Separately, analysts at Needham & Company raised their price target on shares of Aruba Networks from $24.00 to $25.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Aruba Networks from $20.00 to $23.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.79.
Aruba Networks (NASDAQ:ARUN) traded down 1.42% during mid-day trading on Friday, hitting $20.78. The stock had a trading volume of 6,225,149 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 $19.73 and a 200-day moving average of $18.31. The company’s market cap is $2.268 billion.
Aruba Networks (NASDAQ:ARUN) last released its earnings data on Thursday, February 20th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.01. The company had revenue of $176.40 million for the quarter, compared to the consensus estimate of $167.57 million. On average, analysts predict that Aruba Networks will post $0.73 earnings per share for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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