Aruba Networks (ARUN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Aruba Networks (NASDAQ:ARUN) issued its quarterly earnings data on Tuesday. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01, AnalystRatingsNetwork.com reports. The company had revenue of $202.90 million for the quarter, compared to the consensus estimate of $194.83 million. During the same quarter last year, the company posted $0.12 earnings per share. Aruba Networks’s revenue was up 32.5% compared to the same quarter last year.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 0.75% during mid-day trading on Tuesday, hitting $20.24. The stock had a trading volume of 2,981,604 shares. Aruba Networks has a one year low of $15.97 and a one year high of $23.58. The stock’s 50-day moving average is $18.19 and its 200-day moving average is $19.01. The company’s market cap is $2.201 billion.
ARUN has been the subject of a number of recent research reports. 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. On a related note, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Aruba Networks has a consensus rating of “Buy” and a consensus target price of $22.80.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of Aruba Networks stock on the open market in a transaction that occurred on 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 legal 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.