Aruba Networks Price Target Cut to $62.00 by Analysts at Pacific Crest (ARUN)
Stock analysts at Pacific Crest decreased their target price on shares of Aruba Networks (NASDAQ:ARUN) from $63.00 to $62.00 in a report issued on Wednesday. Pacific Crest’s price objective would indicate a potential upside of 206.32% from the stock’s previous close.
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 announced its earnings results on Tuesday, August 26th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ARUN. Analysts at Piper Jaffray raised their price target on shares of Aruba Networks from $26.00 to $28.00 in a research note on Wednesday. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Aruba Networks has a consensus rating of “Hold” and an average target price of $24.48.
In other Aruba Networks news, Insider Keerti Melkote sold 54,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.06, for a total transaction of $1,083,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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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