Aruba Networks Receives Average Rating of “Hold” from Brokerages (NASDAQ:ARUN)
Shares of Aruba Networks (NASDAQ:ARUN) have earned a consensus recommendation of “Hold” from the twenty-nine analysts that are covering the stock, Analyst Ratings Net reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.51.
A number of research firms have recently commented on ARUN. Analysts at Imperial Capital initiated coverage on shares of Aruba Networks in a research note on Monday. They set an “outperform” rating and a $23.00 price target on the stock. Separately, analysts at Oppenheimer upgraded shares of Aruba Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $24.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Aruba Networks from a “neutral” rating to an “underperform” rating in a research note on Thursday, April 24th. They now have a $19.70 price target on the stock.
Shares of Aruba Networks (NASDAQ:ARUN) traded down 0.90% on Thursday, hitting $19.74. 410,968 shares of the company’s stock traded hands. Aruba Networks has a one year low of $12.80 and a one year high of $23.58. The stock has a 50-day moving average of $19. and a 200-day moving average of $19.21. The company’s market cap is $2.108 billion.
In other Aruba Networks news, Insider Dominic Orr unloaded 200,000 shares of the company’s stock on the open market in a transaction dated Friday, May 9th. The stock was sold at an average price of $18.85, for a total transaction of $3,770,000.00. Following the completion of the transaction, the insider now directly owns 225,000 shares in the company, valued at approximately $4,241,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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