Aruba Networks Given New $26.00 Price Target at Imperial Capital (ARUN)
Research analysts at Imperial Capital hoisted their price objective on shares of Aruba Networks (NASDAQ:ARUN) from $23.00 to $26.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the stock. Imperial Capital’s target price points to a potential upside of 28.46% from the stock’s previous close.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 4.69% on Wednesday, hitting $21.19. 4,359,808 shares of the company’s stock traded hands. 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 $18.28 and its 200-day moving average is $19.0. The company’s market cap is $2.304 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. 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. Analysts expect that Aruba Networks will post $1.04 EPS for the current fiscal year.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.06, for a total value of $1,083,240.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other firms have also recently commented on ARUN. Analysts at Stephens upgraded shares of Aruba Networks from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Aruba Networks from an “underweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $21.00 price target on the stock, up previously from $15.00. Finally, analysts at Mizuho raised their price target on shares of Aruba Networks from $20.00 to $21.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.74.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
Receive News & Ratings for Aruba Networks Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aruba Networks Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.