Aruba Networks Given Overweight Rating at Barclays (ARUN)
Aruba Networks (NASDAQ:ARUN)‘s stock had its “overweight” rating reiterated by Barclays in a research note issued on Wednesday. They currently have a $25.00 price objective on the stock, up from their previous price objective of $21.00. Barclays’ price objective suggests a potential upside of 23.52% from the company’s current price.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Imperial Capital raised their price target on shares of Aruba Networks from $23.00 to $26.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Stephens upgraded shares of Aruba Networks from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Finally, 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Aruba Networks presently has a consensus rating of “Hold” and a consensus price target of $24.74.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 3.83% during mid-day trading on Wednesday, hitting $21.015. 4,196,497 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’s 50-day moving average is $18.28 and its 200-day moving average is $19.0. The company’s market cap is $2.285 billion.
Aruba Networks (NASDAQ:ARUN) last posted its quarterly earnings results 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. On average, analysts predict that Aruba Networks will post $1.04 earnings per share for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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