Meru Networks (MERU) Announces Quarterly Results
Meru Networks (NASDAQ:MERU) posted its quarterly earnings results on Monday. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.01, American Banking and Market News reports. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $23.90 million.
On the ratings front, analysts at William Blair downgraded shares of Meru Networks from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 29th.
Shares of Meru Networks (NASDAQ:MERU) traded up 5.03% on Monday, hitting $4.18. 33,261 shares of the company’s stock traded hands. Meru Networks has a 52-week low of $2.93 and a 52-week high of $5.08. The stock has a 50-day moving average of $3.78 and a 200-day moving average of $4.13. The company’s market cap is $97.1 million.
Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.
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