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JMP Securities increased their target price on shares of Aruba Networks (NASDAQ:ARUN) from $24.00 to $29.00 in a research note issued on Friday, American Banking News reports. JMP Securities’ price objective would indicate a potential upside of 39.96% from the company’s current price.

Shares of Aruba Networks (NASDAQ:ARUN) opened at 20.72 on Friday. Aruba Networks has a 52 week low of $12.38 and a 52 week high of $26.26. The stock has a 50-day moving average of $19.83 and a 200-day moving average of $18.33. The company’s market cap is $2.261 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.

A number of other analysts have also recently weighed in on ARUN. Analysts at Dougherty & Co initiated coverage on shares of Aruba Networks in a research note on Wednesday. They set a “buy” rating and a $26.00 price target on the stock. Analysts at Janney Montgomery Scott raised their price target on shares of Aruba Networks from $20.00 to $22.00 in a research note on Tuesday. They now have a “fair value” rating on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.93.

Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.

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