Aruba Networks Given Average Rating of “Buy” by Brokerages (NASDAQ:ARUN)
Shares of Aruba Networks (NASDAQ:ARUN) have received an average recommendation of “Buy” from the twenty-eight brokerages that are covering the company, Stock Ratings News reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $27.76.
A number of research firms have recently commented on ARUN. Analysts at Stifel Nicolaus upgraded shares of Aruba Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $24.00 price target on the stock. Separately, analysts at Buckingham Research initiated coverage on shares of Aruba Networks in a research note on Wednesday, July 16th. They set a “neutral” rating and a $19.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Aruba Networks from a “neutral” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $24.00 price target on the stock, up previously from $22.00.
Aruba Networks (NASDAQ:ARUN) opened at 19.90 on Tuesday. 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 $18.13 and a 200-day moving average of $19.01. The company’s market cap is $2.164 billion.
In other Aruba Networks news, Insider Keerti Melkote unloaded 54,000 shares of Aruba Networks stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.06, for a total value of $1,083,240.00. The transaction was disclosed in a filing 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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