Aruba Networks Price Target Raised to $21.00 at Mizuho (ARUN)
Stock analysts at Mizuho hoisted their price target on shares of Aruba Networks (NASDAQ:ARUN) from $20.00 to $21.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential upside of 3.75% 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’s 50-day moving average is $18.28 and its 200-day moving average is $19.0. The company’s market cap is $2.201 billion.
Aruba Networks (NASDAQ:ARUN) last released its 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. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
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 value of $1,083,240.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on ARUN. 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. Separately, analysts at Pacific Crest cut their price target on shares of Aruba Networks from $63.00 to $62.00 in a research note on Wednesday. Finally, 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. 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 company’s stock. The company currently has an average 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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