Aruba Networks Price Target Raised to $28.00 (ARUN)
Investment analysts at Cowen and Company upped their price objective on shares of Aruba Networks (NASDAQ:ARUN) from $27.00 to $28.00 in a note issued to investors on Wednesday. Cowen and Company’s target price points to a potential upside of 31.70% from the company’s current price.
Aruba Networks (NASDAQ:ARUN) traded up 5.04% on Wednesday, hitting $21.26. The stock had a trading volume of 9,576,149 shares. Aruba Networks has a 1-year low of $15.97 and a 1-year 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 announced its earnings results 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. Analysts expect that Aruba Networks will post $1.04 EPS for the current fiscal year.
In other Aruba Networks news, Insider Keerti Melkote unloaded 54,000 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on ARUN. Analysts at BMO Capital Markets raised their price target on shares of Aruba Networks from $21.00 to $23.00 in a research note on Wednesday. Separately, 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. Finally, 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. 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 an average rating of “Hold” and a consensus target price of $24.90.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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