Aruba Networks Receives Average Recommendation of “Buy” from Analysts (NASDAQ:ARUN)
Aruba Networks (NASDAQ:ARUN) has been given an average recommendation of “Buy” by the twenty-nine ratings firms that are currently covering the company, American Banking News.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.60.
In other Aruba Networks news, Insider Dominic P. Orr sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $17.43, for a total transaction of $87,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Aruba Networks (NASDAQ:ARUN) traded down 3.44% on Tuesday, hitting $16.29. The stock had a trading volume of 753,427 shares. Aruba Networks has a 52 week low of $15.55 and a 52 week high of $23.58. The stock has a 50-day moving average of $17.91 and a 200-day moving average of $19.26. The company’s market cap is $1.771 billion.
Aruba Networks (NASDAQ:ARUN) last announced its earnings results on Thursday, May 22nd. The company reported $0.20 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.20. The company had revenue of $18.80 million for the quarter, compared to the consensus estimate of $180.80 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
ARUN has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of Aruba Networks from $28.00 to $23.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Aruba Networks from an “underperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $20.60 price target on the stock. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Aruba Networks in a research note on Friday, May 23rd.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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