Aruba Networks Price Target Raised to $23.00 (ARUN)
Stock analysts at BMO Capital Markets increased their price target on shares of Aruba Networks (NASDAQ:ARUN) from $21.00 to $23.00 in a report issued on Wednesday. BMO Capital Markets’ price target suggests a potential upside of 8.18% from the company’s current price.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 5.04% on Wednesday, hitting $21.26. The stock had a trading volume of 9,577,287 shares. 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 $2.312 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, analysts predict that Aruba Networks will post $1.04 earnings per share for the current fiscal year.
In other Aruba Networks news, Insider Keerti Melkote unloaded 54,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.06, for a total transaction 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 Barclays raised their price target on shares of Aruba Networks from $21.00 to $25.00 in a research note on Wednesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, analysts at Stephens upgraded shares of Aruba Networks from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. They now have a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.90.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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