Buckingham Research Initiates Coverage on Aruba Networks (ARUN)
Equities researchers at Buckingham Research assumed coverage on shares of Aruba Networks (NASDAQ:ARUN) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
In other Aruba Networks news, Insider Dominic P. Orr sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $16.33, for a total value of $3,266,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 0.34% during mid-day trading on Wednesday, hitting $17.48. 2,087,638 shares of the company’s stock traded hands. Aruba Networks has a 52-week low of $15.97 and a 52-week high of $23.58. The stock has a 50-day moving average of $17.51 and a 200-day moving average of $19.21. The company’s market cap is $1.901 billion.
Aruba Networks (NASDAQ:ARUN) last released its earnings data 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 last year, the company posted $0.11 earnings per share. Aruba Networks’s revenue was up 28.3% compared to the same quarter last year. Analysts expect that Aruba Networks will post $0.76 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ARUN. Analysts at Macquarie upgraded shares of Aruba Networks from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $24.00 price target on the stock, up previously from $22.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Aruba Networks in a research note on Thursday, July 10th. They now have a $21.00 price target on the stock, down previously from $25.00. Finally, 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, July 8th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. Aruba Networks has a consensus rating of “Buy” and an average price target of $27.52.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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