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Aruba Networks (NASDAQ:ARUN) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports.

Shares of Aruba Networks (NASDAQ:ARUN) opened at 20.24 on Wednesday. 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 $18.28 and a 200-day moving average of $19.0. The company’s market cap is $2.201 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. Analysts expect that Aruba Networks will post $0.76 EPS for the current fiscal year.

In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of the stock 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 sale was disclosed in a legal filing with the SEC, which is available at this link.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Aruba Networks from an “underweight” rating to a “neutral” rating in a research note on Wednesday. Separately, 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. Finally, analysts at Stifel Nicolaus raised their price target on shares of Aruba Networks from $24.00 to $26.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Aruba Networks currently has a consensus rating of “Hold” and a consensus price target of $24.60.

Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.

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